TE Connectivity Ltd. $TEL Stock Position Reduced by Freedom Investment Management Inc.

Freedom Investment Management Inc. lessened its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,459 shares of the electronics maker’s stock after selling 112 shares during the period. Freedom Investment Management Inc.’s holdings in TE Connectivity were worth $1,089,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Martingale Asset Management L P lifted its holdings in TE Connectivity by 3.6% during the 1st quarter. Martingale Asset Management L P now owns 1,807 shares of the electronics maker’s stock worth $255,000 after buying an additional 63 shares during the last quarter. Nelson Capital Management LLC lifted its holdings in TE Connectivity by 0.4% during the 2nd quarter. Nelson Capital Management LLC now owns 15,464 shares of the electronics maker’s stock worth $2,608,000 after buying an additional 63 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in TE Connectivity by 58.9% during the 2nd quarter. Salomon & Ludwin LLC now owns 178 shares of the electronics maker’s stock worth $31,000 after buying an additional 66 shares during the last quarter. Ballentine Partners LLC lifted its holdings in TE Connectivity by 1.4% during the 1st quarter. Ballentine Partners LLC now owns 4,975 shares of the electronics maker’s stock worth $703,000 after buying an additional 68 shares during the last quarter. Finally, Hickory Point Bank & Trust lifted its holdings in TE Connectivity by 2.6% during the 2nd quarter. Hickory Point Bank & Trust now owns 2,938 shares of the electronics maker’s stock worth $496,000 after buying an additional 75 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In other news, EVP John S. Jenkins sold 45,850 shares of the business’s stock in a transaction on Monday, July 28th. The stock was sold at an average price of $209.33, for a total value of $9,597,780.50. Following the sale, the executive vice president owned 24,625 shares of the company’s stock, valued at approximately $5,154,751.25. The trade was a 65.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $4,841,311.50. Following the completion of the sale, the insider directly owned 25,976 shares in the company, valued at $5,272,868.24. This represents a 47.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,645 shares of company stock worth $14,842,096 in the last three months. 0.90% of the stock is owned by company insiders.

TE Connectivity Stock Up 2.1%

TEL opened at $234.02 on Friday. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $237.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. The stock has a market cap of $69.15 billion, a P/E ratio of 48.45, a P/E/G ratio of 2.47 and a beta of 1.26. The stock’s 50 day moving average price is $214.46 and its 200 day moving average price is $182.51.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, beating the consensus estimate of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%.The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the firm earned $1.91 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. As a group, research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, November 21st. TE Connectivity’s dividend payout ratio (DPR) is currently 58.80%.

Analyst Ratings Changes

Several brokerages recently issued reports on TEL. Evercore ISI raised their price target on TE Connectivity from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday. KGI Securities raised TE Connectivity to a “hold” rating in a report on Thursday, July 24th. Robert W. Baird raised their price target on TE Connectivity from $222.00 to $238.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. The Goldman Sachs Group raised their price target on TE Connectivity from $228.00 to $263.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Finally, Wall Street Zen downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 31st. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from 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.