Dodge & Cox Reduces Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Dodge & Cox decreased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,965,609 shares of the electronics maker’s stock after selling 24,577 shares during the quarter. TE Connectivity comprises 1.3% of Dodge & Cox’s portfolio, making the stock its 27th biggest holding. Dodge & Cox owned approximately 0.05% of TE Connectivity worth $2,282,603,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TEL. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity in the fourth quarter worth about $26,000. SRS Capital Advisors Inc. raised its holdings in TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after buying an additional 107 shares during the period. Fairway Wealth LLC purchased a new position in shares of TE Connectivity during the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC purchased a new position in TE Connectivity in the 4th quarter worth about $44,000. Finally, Hilltop National Bank purchased a new position in TE Connectivity during the 4th quarter worth $55,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 1.7 %

TE Connectivity stock opened at $130.13 on Tuesday. The firm has a market capitalization of $38.82 billion, a P/E ratio of 20.79, a P/E/G ratio of 2.11 and a beta of 1.25. The stock’s fifty day simple moving average is $144.46 and its 200-day simple moving average is $146.89. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve 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.

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

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. 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 yield of 2.18%. TE Connectivity’s payout ratio is 45.37%.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Citigroup reduced their target price on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a report on Monday. UBS Group dropped their price objective on shares of TE Connectivity from $188.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of “Hold” and a consensus target price of $161.30.

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.