TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Forum Financial Management LP

Forum Financial Management LP lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,184 shares of the electronics maker’s stock after selling 134 shares during the quarter. Forum Financial Management LP’s holdings in TE Connectivity were worth $455,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Pinnacle Bancorp Inc. acquired a new stake in TE Connectivity in the fourth quarter worth about $26,000. SRS Capital Advisors Inc. lifted its stake 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 worth $28,000 after acquiring an additional 107 shares during the period. Fairway Wealth LLC bought a new position in shares of TE Connectivity in the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity during the fourth quarter valued at approximately $44,000. Finally, Hilltop National Bank bought a new stake in TE Connectivity during the fourth quarter worth approximately $55,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 1.8 %

Shares of NYSE:TEL opened at $129.23 on Monday. The firm has a 50 day simple moving average of $142.92 and a 200 day simple moving average of $146.37. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $159.98. 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 company has a market cap of $38.56 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.92 billion. During the same quarter in the prior year, the company earned $1.84 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.20%. The ex-dividend date is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is 45.37%.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company’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 represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of research reports. Wells Fargo & Company increased their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Robert W. Baird lowered their target price on TE Connectivity from $150.00 to $147.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price target on shares of TE Connectivity from $169.00 to $146.00 and set a “neutral” rating for the company in a report on Thursday. Citigroup lowered their price objective on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group cut their target price on shares of TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $156.90.

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.