Swiss National Bank Decreases Position in TE Connectivity Ltd. (NYSE:TEL)

Swiss National Bank lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 981,900 shares of the electronics maker’s stock after selling 32,400 shares during the quarter. Swiss National Bank owned approximately 0.32% of TE Connectivity worth $137,957,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lee Danner & Bass Inc. grew its holdings in shares of TE Connectivity by 2.5% during the fourth quarter. Lee Danner & Bass Inc. now owns 3,085 shares of the electronics maker’s stock worth $433,000 after buying an additional 74 shares in the last quarter. Argonautica Private Wealth Management Inc. boosted its holdings in shares of TE Connectivity by 3.2% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 2,479 shares of the electronics maker’s stock worth $348,000 after purchasing an additional 78 shares during the last quarter. Vista Investment Management grew its position in shares of TE Connectivity by 0.7% in the third quarter. Vista Investment Management now owns 11,970 shares of the electronics maker’s stock valued at $1,479,000 after purchasing an additional 84 shares in the last quarter. Bison Wealth LLC boosted its stake in TE Connectivity by 1.4% during the third quarter. Bison Wealth LLC now owns 6,576 shares of the electronics maker’s stock worth $812,000 after buying an additional 88 shares during the last quarter. Finally, Caprock Group LLC raised its holdings in shares of TE Connectivity by 1.6% during the 4th quarter. Caprock Group LLC now owns 5,581 shares of the electronics maker’s stock worth $784,000 after acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling at TE Connectivity

In related news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the sale, the director now directly owns 5,917 shares of the company’s stock, valued at $837,196.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TEL. JPMorgan Chase & Co. cut their price target on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus increased their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Robert W. Baird lowered their price target on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Jefferies Financial Group initiated coverage on TE Connectivity in a report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, TE Connectivity currently has an average rating of “Moderate Buy” and an average target price of $153.50.

TE Connectivity Stock Performance

Shares of TEL opened at $142.00 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.45 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98. The stock has a 50 day moving average price of $142.48 and a 200 day moving average price of $136.65. The company has a market capitalization of $43.48 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. TE Connectivity’s revenue for the quarter was down 4.6% on a year-over-year basis. Research analysts predict that TE Connectivity Ltd. will post 7.51 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.83%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is presently 21.59%.

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.