Arden Trust Co Sells 238 Shares of TE Connectivity Ltd. (NYSE:TEL)

Arden Trust Co lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,980 shares of the electronics maker’s stock after selling 238 shares during the quarter. Arden Trust Co’s holdings in TE Connectivity were worth $2,321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in TE Connectivity during the 4th quarter valued at approximately $693,985,000. Massachusetts Financial Services Co. MA increased its stake in TE Connectivity by 2.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock worth $650,910,000 after acquiring an additional 111,340 shares during the last quarter. Invesco Ltd. increased its stake in TE Connectivity by 3.5% in the 3rd quarter. Invesco Ltd. now owns 4,572,117 shares of the electronics maker’s stock worth $564,794,000 after acquiring an additional 154,496 shares during the last quarter. Impax Asset Management Group plc increased its stake in TE Connectivity by 1.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock worth $529,798,000 after acquiring an additional 51,866 shares during the last quarter. Finally, Morgan Stanley increased its stake in TE Connectivity by 11.7% in the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock worth $461,872,000 after acquiring an additional 390,723 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Insiders Place Their Bets

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the transaction, the director now owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. StockNews.com assumed coverage on TE Connectivity in a report on Monday. They issued a “buy” rating for the company. Jefferies Financial Group assumed coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Robert W. Baird lowered their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and an average price target of $153.89.

TE Connectivity Stock Up 0.7 %

NYSE:TEL traded up $1.00 during mid-day trading on Tuesday, hitting $151.18. 1,466,836 shares of the company’s stock traded hands, compared to its average volume of 1,981,214. The company has a fifty day moving average of $146.53 and a 200 day moving average of $142.29. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $152.79. The company has a market capitalization of $46.30 billion, a P/E ratio of 13.83, a P/E/G ratio of 2.17 and a beta of 1.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 earnings per share. On average, analysts forecast that TE Connectivity Ltd. will post 7.5 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.65 per share. The ex-dividend date is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.72%. TE Connectivity’s dividend payout ratio is currently 23.79%.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.