Swiss National Bank Lowers Holdings in TE Connectivity Ltd. (NYSE:TEL)

Swiss National Bank reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 858,600 shares of the electronics maker’s stock after selling 48,100 shares during the period. Swiss National Bank owned approximately 0.29% of TE Connectivity worth $122,754,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Assetmark Inc. grew its position in TE Connectivity by 11.9% during the 3rd quarter. Assetmark Inc. now owns 2,266 shares of the electronics maker’s stock valued at $342,000 after purchasing an additional 241 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in shares of TE Connectivity by 2.7% during the third quarter. Apollon Wealth Management LLC now owns 8,346 shares of the electronics maker’s stock valued at $1,260,000 after buying an additional 223 shares during the last quarter. Prime Capital Investment Advisors LLC increased its position in shares of TE Connectivity by 17.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,984 shares of the electronics maker’s stock valued at $300,000 after acquiring an additional 288 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of TE Connectivity by 0.8% during the third quarter. Victory Capital Management Inc. now owns 146,810 shares of the electronics maker’s stock valued at $22,167,000 after acquiring an additional 1,154 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in TE Connectivity by 21.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock worth $10,471,000 after acquiring an additional 12,140 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Robert W. Baird upped their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Finally, Bank of America boosted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and a consensus target price of $167.00.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s 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 completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by insiders.

TE Connectivity Stock Down 1.4 %

TEL opened at $141.20 on Friday. The firm’s 50 day simple moving average is $148.46 and its two-hundred day simple moving average is $148.57. The company has a market capitalization of $42.13 billion, a PE ratio of 22.56, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL) last announced its 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. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the firm earned $1.84 EPS. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. 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 2.01%. 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.