OMERS ADMINISTRATION Corp Sells 36,535 Shares of TE Connectivity Ltd. (NYSE:TEL)

OMERS ADMINISTRATION Corp trimmed its position in TE Connectivity Ltd. (NYSE:TEL) by 73.9% in the 4th quarter, Holdings Channel reports. The firm owned 12,871 shares of the electronics maker’s stock after selling 36,535 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in TE Connectivity were worth $1,840,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TEL. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity during the fourth quarter valued at $26,000. SRS Capital Advisors Inc. raised its holdings in shares of TE Connectivity by 117.6% in 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 in the last quarter. Fairway Wealth LLC bought a new stake in shares of TE Connectivity during the 4th quarter valued at about $43,000. Golden State Wealth Management LLC purchased a new position in shares of TE Connectivity during the fourth quarter worth about $44,000. Finally, Deseret Mutual Benefit Administrators bought a new position in shares of TE Connectivity in the fourth quarter worth approximately $57,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Performance

NYSE:TEL opened at $163.58 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock has a 50-day simple moving average of $141.62 and a two-hundred day simple moving average of $146.56. The firm has a market capitalization of $48.51 billion, a PE ratio of 26.13, a P/E/G ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $163.61.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the firm earned $1.86 EPS. The company’s revenue was up 4.4% on a year-over-year basis. Analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s payout ratio is currently 62.42%.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Aaron Kyle Stucki sold 5,000 shares of TE Connectivity stock in a transaction on Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. Following the completion of the transaction, the insider now directly owns 23,646 shares of the company’s stock, valued at $3,783,360. The trade was a 17.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock worth $27,062,559 in the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TEL has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Bank of America upped their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. UBS Group reissued a “buy” rating and set a $163.00 price objective (up from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Citigroup cut their target price on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, HSBC raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average price target of $159.50.

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.