Prudential Financial Inc. Sells 16,990 Shares of TE Connectivity Ltd. (NYSE:TEL)

Prudential Financial Inc. lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 34.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,702 shares of the electronics maker’s stock after selling 16,990 shares during the quarter. Prudential Financial Inc.’s holdings in TE Connectivity were worth $4,532,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. increased its position in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after buying an additional 107 shares during the last quarter. Fairway Wealth LLC bought a new stake in shares of TE Connectivity in the fourth quarter valued at $43,000. Golden State Wealth Management LLC purchased a new position in shares of TE Connectivity during the 4th quarter valued at $44,000. Finally, Hilltop National Bank bought a new position in shares of TE Connectivity during the 4th quarter worth $55,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Down 0.5 %

Shares of TEL stock opened at $141.36 on Tuesday. The company has a market capitalization of $42.18 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The business’s fifty day moving average is $149.23 and its 200 day moving average is $148.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last issued its quarterly 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. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company posted $1.84 EPS. On average, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.01%. TE Connectivity’s dividend payout ratio is presently 45.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Bank of America lifted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Citigroup increased their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company lifted their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $167.00.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by insiders.

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.