Founders Financial Alliance LLC Reduces Holdings in TE Connectivity Ltd. (NYSE:TEL)

Founders Financial Alliance LLC cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 20.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,248 shares of the electronics maker’s stock after selling 588 shares during the quarter. Founders Financial Alliance LLC’s holdings in TE Connectivity were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of TEL. Norges Bank purchased a new stake in TE Connectivity in the 4th quarter worth approximately $693,985,000. Qube Research & Technologies Ltd purchased a new stake in TE Connectivity in the 3rd quarter worth approximately $165,640,000. Morgan Stanley lifted its holdings in TE Connectivity by 11.7% in the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock worth $461,872,000 after buying an additional 390,723 shares during the period. JPMorgan Chase & Co. lifted its holdings in TE Connectivity by 61.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 957,084 shares of the electronics maker’s stock worth $118,229,000 after buying an additional 364,377 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in TE Connectivity by 13.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,835,064 shares of the electronics maker’s stock worth $398,342,000 after buying an additional 343,205 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price for the company. Robert W. Baird decreased their target price 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. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. StockNews.com assumed coverage on TE Connectivity in a research report on Friday. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. decreased their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $153.89.

Insiders Place Their Bets

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

TE Connectivity Stock Up 0.6 %

TEL stock traded up $0.87 on Friday, reaching $150.87. 1,180,062 shares of the company traded hands, compared to its average volume of 1,470,000. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $152.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The company has a market cap of $46.20 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 2.21 and a beta of 1.36. The firm has a fifty day simple moving average of $144.53 and a 200-day simple moving average of $139.85.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 EPS. Research analysts anticipate that TE Connectivity Ltd. will post 7.5 earnings per share for the current year.

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Friday, February 21st. TE Connectivity’s payout ratio is 23.79%.

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.