Korea Investment CORP Reduces Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Korea Investment CORP lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 281,725 shares of the electronics maker’s stock after selling 35,532 shares during the period. Korea Investment CORP owned 0.09% of TE Connectivity worth $40,278,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of TE Connectivity by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after acquiring an additional 4,029,596 shares during the last quarter. Amundi purchased a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $159,992,000. Nordea Investment Management AB acquired a new stake in shares of TE Connectivity during the 4th quarter worth approximately $149,211,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of TE Connectivity by 2,330.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock valued at $107,738,000 after buying an additional 722,565 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in 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 during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is owned by insiders.

TE Connectivity Stock Performance

Shares of TEL stock opened at $147.00 on Friday. The firm has a 50 day moving average of $149.41 and a two-hundred day moving average of $148.40. The stock has a market capitalization of $43.86 billion, a PE ratio of 23.48, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 EPS. On average, 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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.93%. TE Connectivity’s dividend payout ratio (DPR) is 45.37%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Citigroup raised their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Bank of America raised their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research 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 report on Thursday, January 23rd. Wells Fargo & Company increased their target price 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, HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Company 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.