TE Connectivity Ltd. $TEL Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 21.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,301 shares of the electronics maker’s stock after selling 15,082 shares during the period. Oppenheimer Asset Management Inc.’s holdings in TE Connectivity were worth $9,159,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC purchased a new position in shares of TE Connectivity in the 2nd quarter valued at approximately $26,000. Salomon & Ludwin LLC grew its stake in shares of TE Connectivity by 58.9% in the 2nd quarter. Salomon & Ludwin LLC now owns 178 shares of the electronics maker’s stock valued at $31,000 after purchasing an additional 66 shares during the last quarter. Richardson Financial Services Inc. purchased a new position in shares of TE Connectivity in the 2nd quarter valued at approximately $33,000. Costello Asset Management INC purchased a new position in shares of TE Connectivity in the 1st quarter valued at approximately $28,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of TE Connectivity in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Up 0.7%

TEL opened at $235.66 on Monday. The business’s fifty day moving average is $215.12 and its two-hundred day moving average is $184.06. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52. The company has a market cap of $69.63 billion, a price-to-earnings ratio of 48.79, a PEG ratio of 2.54 and a beta of 1.26. TE Connectivity Ltd. has a one year low of $116.30 and a one year high of $237.63.

TE Connectivity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, November 21st. TE Connectivity’s payout ratio is presently 58.80%.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 23,850 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the sale, the insider directly owned 25,976 shares in the company, valued at approximately $5,272,868.24. The trade was a 47.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TEL shares. Zacks Research downgraded TE Connectivity from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Citigroup lifted their price target on TE Connectivity from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Evercore ISI lifted their price target on TE Connectivity from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. lifted their price target on TE Connectivity from $186.00 to $204.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, KGI Securities upgraded TE Connectivity to a “hold” rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.00.

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.