Cwm LLC Sells 428 Shares of TE Connectivity Ltd. (NYSE:TEL)

Cwm LLC lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,682 shares of the electronics maker’s stock after selling 428 shares during the period. Cwm LLC’s holdings in TE Connectivity were worth $798,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd bought a new position in shares of TE Connectivity in the 3rd quarter valued at $165,640,000. Assenagon Asset Management S.A. increased its stake in shares of TE Connectivity by 273.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 651,291 shares of the electronics maker’s stock valued at $80,454,000 after purchasing an additional 476,929 shares during the last quarter. Morgan Stanley increased its stake in shares of TE Connectivity by 11.7% in the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after purchasing an additional 390,723 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of TE Connectivity by 61.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 957,084 shares of the electronics maker’s stock valued at $118,229,000 after purchasing an additional 364,377 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of TE Connectivity by 251.3% in the 3rd quarter. Hsbc Holdings PLC now owns 386,082 shares of the electronics maker’s stock valued at $47,675,000 after purchasing an additional 276,183 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL opened at $142.80 on Tuesday. The firm has a market capitalization of $44.38 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.06 and a beta of 1.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45. The stock has a 50 day moving average price of $142.56 and a two-hundred day moving average price of $136.46. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.03. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. TE Connectivity’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 earnings per share. Equities analysts forecast that TE Connectivity Ltd. will post 7.55 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.82%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio (DPR) is 21.59%.

Insider Buying and Selling at TE Connectivity

In other news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the transaction, the director now directly owns 5,917 shares of the company’s stock, valued at $837,196.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TEL. Stifel Nicolaus lifted their price target on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Jefferies Financial Group began coverage on TE Connectivity in a report on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price on the stock. Robert W. Baird cut their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Citigroup began coverage on TE Connectivity in a report on Friday, January 5th. They set a “neutral” rating and a $146.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $153.50.

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.