Russell Investments Group Ltd. Decreases Holdings in TE Connectivity Ltd. (NYSE:TEL)

Russell Investments Group Ltd. cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL – Get Rating) by 15.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 142,771 shares of the electronics maker’s stock after selling 25,560 shares during the quarter. Russell Investments Group Ltd.’s holdings in TE Connectivity were worth $16,393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of TE Connectivity by 0.4% during the third quarter. Vanguard Group Inc. now owns 27,935,312 shares of the electronics maker’s stock worth $3,082,942,000 after purchasing an additional 99,264 shares during the period. State Street Corp increased its stake in shares of TE Connectivity by 0.3% during the third quarter. State Street Corp now owns 11,954,526 shares of the electronics maker’s stock valued at $1,319,301,000 after buying an additional 40,740 shares during the period. Boston Partners increased its stake in shares of TE Connectivity by 3.9% during the third quarter. Boston Partners now owns 3,775,836 shares of the electronics maker’s stock valued at $416,738,000 after buying an additional 141,137 shares during the period. Bank of New York Mellon Corp increased its stake in shares of TE Connectivity by 56.8% during the third quarter. Bank of New York Mellon Corp now owns 3,762,825 shares of the electronics maker’s stock valued at $415,266,000 after buying an additional 1,363,669 shares during the period. Finally, Impax Asset Management Group plc increased its stake in shares of TE Connectivity by 1.1% during the third quarter. Impax Asset Management Group plc now owns 2,879,117 shares of the electronics maker’s stock valued at $317,388,000 after buying an additional 30,194 shares during the period. 91.10% of the stock is owned by institutional investors.

TE Connectivity Stock Performance

TEL stock opened at $120.59 on Thursday. The stock has a market capitalization of $38.17 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 2.71 and a beta of 1.31. TE Connectivity Ltd. has a 12-month low of $104.76 and a 12-month high of $138.24. The company has a current ratio of 1.69, a quick ratio of 1.05 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $125.43 and its 200 day simple moving average is $124.01.

TE Connectivity (NYSE:TEL – Get Rating) last issued its earnings results on Wednesday, April 26th. The electronics maker reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.07. TE Connectivity had a return on equity of 20.36% and a net margin of 12.95%. The business had revenue of $4.16 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the previous year, the firm earned $1.81 EPS. TE Connectivity’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that TE Connectivity Ltd. will post 6.54 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 16th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, February 15th. TE Connectivity’s dividend payout ratio (DPR) is presently 33.73%.

Insiders Place Their Bets

In other TE Connectivity news, EVP John S. Jenkins sold 25,025 shares of TE Connectivity stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $122.32, for a total value of $3,061,058.00. Following the completion of the sale, the executive vice president now owns 22,486 shares of the company’s stock, valued at approximately $2,750,487.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other TE Connectivity news, CFO Heath A. Mitts sold 9,418 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $123.12, for a total value of $1,159,544.16. Following the transaction, the chief financial officer now directly owns 28,163 shares of the company’s stock, valued at $3,467,428.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John S. Jenkins sold 25,025 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $122.32, for a total transaction of $3,061,058.00. Following the completion of the transaction, the executive vice president now owns 22,486 shares in the company, valued at $2,750,487.52. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of research reports. Stifel Nicolaus lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a research note on Wednesday, February 15th. Wolfe Research cut TE Connectivity from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 9th. Credit Suisse Group raised their target price on TE Connectivity from $117.00 to $136.00 and gave the company a “neutral” rating in a research note on Wednesday, April 5th. StockNews.com cut TE Connectivity from a “buy” rating to a “hold” rating in a research note on Friday, April 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of TE Connectivity from $132.00 to $137.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 19th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $138.85.

TE Connectivity Profile

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TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensor solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.