Gamco Investors INC. ET AL Decreases Holdings in TE Connectivity Ltd. (NYSE:TEL)

Gamco Investors INC. ET AL lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 6.0% in the 4th quarter, HoldingsChannel reports. The fund owned 18,650 shares of the electronics maker’s stock after selling 1,200 shares during the period. Gamco Investors INC. ET AL’s holdings in TE Connectivity were worth $2,666,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Modera Wealth Management LLC increased its position in shares of TE Connectivity by 2.8% during the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock valued at $409,000 after purchasing an additional 78 shares during the last quarter. King Luther Capital Management Corp raised its stake in shares of TE Connectivity by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock valued at $2,002,000 after acquiring an additional 83 shares during the period. Ascent Wealth Partners LLC lifted its holdings in shares of TE Connectivity by 1.0% in the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock worth $1,231,000 after acquiring an additional 85 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of TE Connectivity by 6.0% in the 4th quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker’s stock worth $240,000 after acquiring an additional 95 shares during the last quarter. Finally, Callan Capital LLC boosted its stake in shares of TE Connectivity by 5.4% during the 4th quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock worth $296,000 after purchasing an additional 106 shares during the period. 91.43% of the stock is owned by institutional investors.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

TE Connectivity Stock Performance

Shares of NYSE:TEL opened at $129.23 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $38.56 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. The firm has a 50 day moving average of $143.31 and a 200 day moving average of $146.48. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping 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 firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the business posted $1.84 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, sell-side analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is 45.37%.

Analyst Ratings Changes

A number of research firms have recently commented on TEL. Bank of America upped their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird lowered their target price on shares of TE Connectivity from $150.00 to $147.00 and set an “outperform” rating for the company in a research note on Tuesday. HSBC raised 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 note on Thursday, January 23rd. Finally, StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $156.90.

About TE Connectivity

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.