HighTower Advisors LLC Sells 5,284 Shares of TE Connectivity Ltd. (NYSE:TEL)

HighTower Advisors LLC cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 53,519 shares of the electronics maker’s stock after selling 5,284 shares during the period. HighTower Advisors LLC’s holdings in TE Connectivity were worth $7,652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. raised its stake in shares of TE Connectivity by 117.6% in 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 period. Fairway Wealth LLC acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $43,000. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $44,000. Finally, Hilltop National Bank acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $55,000. 91.43% of the stock is currently owned by institutional investors.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

TE Connectivity Price Performance

Shares of NYSE TEL opened at $146.88 on Tuesday. The business’s 50 day moving average price is $148.60 and its two-hundred day moving average price is $148.45. The company has a market cap of $43.82 billion, a PE ratio of 23.46, a price-to-earnings-growth 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 twelve month low of $137.61 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share 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 return on equity of 18.82% and a net margin of 12.10%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 earnings per share. On average, analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently disclosed 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is currently 45.37%.

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.