Adage Capital Partners GP L.L.C. Sells 97,871 Shares of TE Connectivity Ltd. (NYSE:TEL)

Adage Capital Partners GP L.L.C. cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 48.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,073 shares of the electronics maker’s stock after selling 97,871 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in TE Connectivity were worth $15,165,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity during the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. boosted its holdings in 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 acquiring an additional 107 shares during the period. Fairway Wealth LLC purchased a new stake in TE Connectivity during the 4th quarter valued at about $43,000. Golden State Wealth Management LLC purchased a new position in TE Connectivity in the 4th quarter worth approximately $44,000. Finally, Hilltop National Bank bought a new stake in TE Connectivity in the fourth quarter valued at approximately $55,000. Institutional investors own 91.43% of the company’s stock.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 0.7 %

NYSE:TEL opened at $144.58 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm’s 50-day moving average price is $141.45 and its 200-day moving average price is $146.07. The company has a market capitalization of $43.14 billion, a PE ratio of 23.10, a P/E/G ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. On average, equities analysts predict that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced 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. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is currently 45.37%.

Analysts Set New Price Targets

Several brokerages recently commented on TEL. UBS Group reaffirmed a “buy” rating and issued a $163.00 target price (up from $155.00) on shares of TE Connectivity in a research note on Thursday. The Goldman Sachs Group lowered their price objective on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. HSBC raised TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Thursday. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Finally, Hsbc Global Res upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.50.

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.