Boston Partners Sells 127,640 Shares of TE Connectivity Ltd. (NYSE:TEL)

Boston Partners reduced its position in TE Connectivity Ltd. (NYSE:TEL) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,004,651 shares of the electronics maker’s stock after selling 127,640 shares during the quarter. Boston Partners’ holdings in TE Connectivity were worth $286,665,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pinnacle Bancorp Inc. bought a new position in TE Connectivity in the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. grew its holdings in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC bought a new stake in shares of TE Connectivity during the 4th quarter valued at approximately $43,000. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity during the 4th quarter valued at approximately $44,000. Finally, Hilltop National Bank bought a new stake in shares of TE Connectivity during the 4th quarter valued at approximately $55,000. 91.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TEL. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Bank of America lifted their price target 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. Citigroup lifted their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research report on Thursday, January 23rd. Finally, StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Up 0.0 %

Shares of NYSE TEL opened at $146.80 on Wednesday. The company has a market capitalization of $43.80 billion, a P/E ratio of 23.45, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company’s 50 day moving average price is $148.67 and its 200-day moving average price is $148.40.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for 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 revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.84 EPS. Equities analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.93%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is currently 45.37%.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction 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 sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is currently owned by company insiders.

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.