Independent Advisor Alliance Lowers Stake in TE Connectivity Ltd. (NYSE:TEL)

Independent Advisor Alliance reduced its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.8% during the 4th quarter, HoldingsChannel reports. The firm owned 7,666 shares of the electronics maker’s stock after selling 223 shares during the period. Independent Advisor Alliance’s holdings in TE Connectivity were worth $1,096,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of TEL. State Street Corp boosted its holdings in shares of TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after acquiring an additional 268,837 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of TE Connectivity by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after acquiring an additional 75,658 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of TE Connectivity by 15.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock valued at $536,083,000 after acquiring an additional 488,680 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after acquiring an additional 694,917 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after acquiring an additional 712,228 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of several analyst reports. Robert W. Baird lifted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Bank of America raised their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company raised their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Finally, Citigroup raised their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Stock Performance

Shares of TEL opened at $146.22 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a market cap of $43.63 billion, a P/E ratio of 23.36, a PEG ratio of 2.11 and a beta of 1.32. The company has a 50-day moving average of $148.53 and a two-hundred day moving average of $148.50. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 earnings per share. As a group, research analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. The ex-dividend date is Wednesday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.94%. TE Connectivity’s payout ratio is 41.53%.

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.