TE Connectivity Ltd. (NYSE:TEL) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 13.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,951 shares of the electronics maker’s stock after selling 297 shares during the period. OLD National Bancorp IN’s holdings in TE Connectivity were worth $274,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in TE Connectivity during the 4th quarter valued at about $10,759,000. Nordea Investment Management AB boosted its stake in TE Connectivity by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock valued at $114,430,000 after purchasing an additional 41,198 shares during the period. SG Americas Securities LLC boosted its stake in TE Connectivity by 518.3% during the 4th quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock valued at $21,876,000 after purchasing an additional 130,515 shares during the period. Patten Group Inc. bought a new stake in shares of TE Connectivity during the 4th quarter worth about $220,000. Finally, Ninety One North America Inc. raised its position in shares of TE Connectivity by 39.4% during the 4th quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock worth $8,611,000 after buying an additional 17,322 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TE Connectivity

In related news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares of the company’s stock, valued at $4,386,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TEL shares. Citigroup started coverage on shares of TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research report on Thursday. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Jefferies Financial Group began coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target on the stock. Finally, Robert W. Baird dropped their target price on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $153.50.

TE Connectivity Stock Performance

TE Connectivity stock opened at $140.44 on Friday. The firm’s 50 day simple moving average is $142.59 and its 200-day simple moving average is $136.06. The company has a market cap of $43.65 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.99 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 1.16. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $147.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.65 earnings per share. As a group, equities research analysts predict that TE Connectivity Ltd. will post 7.59 EPS for the current year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is currently 21.59%.

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.