Invesco Ltd. Sells 1,607,029 Shares of TE Connectivity Ltd. (NYSE:TEL)

Invesco Ltd. reduced its position in TE Connectivity Ltd. (NYSE:TEL) by 37.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,710,718 shares of the electronics maker’s stock after selling 1,607,029 shares during the quarter. Invesco Ltd. owned approximately 0.91% of TE Connectivity worth $387,551,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TEL. EP Wealth Advisors LLC acquired a new position in shares of TE Connectivity in the 3rd quarter worth approximately $278,000. MML Investors Services LLC raised its stake in TE Connectivity by 11.1% during the third quarter. MML Investors Services LLC now owns 22,722 shares of the electronics maker’s stock worth $3,431,000 after acquiring an additional 2,276 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of TE Connectivity during the third quarter valued at $2,586,000. LRI Investments LLC boosted its stake in shares of TE Connectivity by 64.8% in the 3rd quarter. LRI Investments LLC now owns 819 shares of the electronics maker’s stock valued at $126,000 after purchasing an additional 322 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in shares of TE Connectivity by 13.1% in the 3rd quarter. M&T Bank Corp now owns 21,211 shares of the electronics maker’s stock worth $3,203,000 after purchasing an additional 2,463 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TE Connectivity stock opened at $133.96 on Thursday. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $159.98. The company’s 50-day moving average is $145.47 and its two-hundred day moving average is $147.33. 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 company has a market cap of $39.97 billion, a PE ratio of 21.40, a PEG ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm earned $1.84 earnings per share. Equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 2.12%. TE Connectivity’s dividend payout ratio is presently 45.37%.

Analyst Upgrades and Downgrades

A number of research firms have commented on TEL. Citigroup boosted their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company raised their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research note on Thursday, January 23rd. Finally, Robert W. Baird raised their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and an average target price of $165.56.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.90% of the company’s stock.

TE Connectivity Profile

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.