Mutual of America Capital Management LLC Trims Stake in TE Connectivity Ltd. (NYSE:TEL)

Mutual of America Capital Management LLC trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 5.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,601 shares of the electronics maker’s stock after selling 2,341 shares during the period. Mutual of America Capital Management LLC’s holdings in TE Connectivity were worth $5,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEL. Bruce G. Allen Investments LLC purchased a new stake in TE Connectivity in the 4th quarter worth $30,000. Jones Financial Companies Lllp increased its stake in TE Connectivity by 358.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after buying an additional 190 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in TE Connectivity in the 3rd quarter worth $35,000. Money Concepts Capital Corp increased its stake in TE Connectivity by 101.3% in the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock worth $37,000 after buying an additional 162 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in TE Connectivity by 176.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock worth $46,000 after buying an additional 210 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TEL has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. raised their price objective on TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup assumed coverage on TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 price objective for the company. StockNews.com assumed coverage on TE Connectivity in a research report on Sunday. They set a “buy” rating for the company. Finally, Robert W. Baird raised their price objective on TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and an average target price of $153.30.

Insiders Place Their Bets

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the sale, the insider now owns 30,459 shares of the company’s stock, valued at $4,386,096. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by insiders.

TE Connectivity Stock Down 2.5 %

Shares of NYSE:TEL opened at $142.98 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $147.98. The company has a 50-day moving average price of $142.73 and a 200 day moving average price of $134.96. The company has a market cap of $44.44 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 2.04 and a beta of 1.39.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 earnings per share. As a group, equities research analysts predict that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

TE Connectivity Announces Dividend

The company 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 $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is currently 22.39%.

About TE Connectivity

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.