Horizon Investments LLC Has $1.30 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Horizon Investments LLC lessened its position in TE Connectivity Ltd. (NYSE:TEL) by 31.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,057 shares of the electronics maker’s stock after selling 4,066 shares during the period. Horizon Investments LLC’s holdings in TE Connectivity were worth $1,295,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TEL. Cibc World Markets Corp increased its stake in shares of TE Connectivity by 14.7% in the fourth quarter. Cibc World Markets Corp now owns 47,425 shares of the electronics maker’s stock valued at $6,780,000 after buying an additional 6,095 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in TE Connectivity by 43.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 55,951 shares of the electronics maker’s stock worth $7,999,000 after acquiring an additional 17,064 shares during the last quarter. Choate Investment Advisors acquired a new position in TE Connectivity in the 4th quarter valued at approximately $636,000. Natixis Advisors LLC raised its stake in shares of TE Connectivity by 4.2% during the fourth quarter. Natixis Advisors LLC now owns 159,112 shares of the electronics maker’s stock valued at $22,748,000 after acquiring an additional 6,394 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of TE Connectivity during the fourth quarter worth $269,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Trading Up 0.6 %

NYSE:TEL opened at $147.80 on Thursday. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $44.10 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.11 and a beta of 1.32. The firm has a fifty day simple moving average of $148.75 and a two-hundred day simple moving average of $148.40.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the business posted $1.84 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued 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 1.92%. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is currently 45.37%.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TEL shares. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Robert W. Baird lifted their price objective on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research report on Thursday, January 23rd. Finally, Bank of America increased their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $167.00.

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.