Parallel Advisors LLC Reduces Holdings in TE Connectivity Ltd. (NYSE:TEL)

Parallel Advisors LLC decreased its holdings in TE Connectivity Ltd. (NYSE:TELFree Report) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,883 shares of the electronics maker’s stock after selling 479 shares during the quarter. Parallel Advisors LLC’s holdings in TE Connectivity were worth $546,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC boosted its holdings in shares of TE Connectivity by 97.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after buying an additional 91 shares during the last quarter. Jones Financial Companies Lllp raised its stake in TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after acquiring an additional 190 shares during the period. Bruce G. Allen Investments LLC bought a new stake in TE Connectivity during the 4th quarter worth approximately $30,000. Crewe Advisors LLC bought a new stake in TE Connectivity during the 4th quarter worth approximately $33,000. Finally, Sachetta LLC bought a new stake in TE Connectivity during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 1.0 %

Shares of TEL opened at $149.67 on Friday. The company’s fifty day moving average is $145.29 and its 200 day moving average is $140.59. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $152.79. The stock has a market capitalization of $45.83 billion, a PE ratio of 13.69, a P/E/G ratio of 2.19 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45.

TE Connectivity (NYSE:TELGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the business posted $1.65 earnings per share. TE Connectivity’s quarterly revenue was down 4.6% on a year-over-year basis. Sell-side analysts expect that TE Connectivity Ltd. will post 7.5 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is presently 23.79%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 target price on the stock. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Saturday. They set a “buy” rating on the stock. JPMorgan Chase & Co. reduced their price objective on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, Robert W. Baird reduced their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $153.89.

View Our Latest Analysis on TE Connectivity

Insiders Place Their Bets

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of TE Connectivity stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.86% of the stock is owned by insiders.

About TE Connectivity

(Free Report)

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.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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