Crescent Sterling Ltd. Has $1.71 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Crescent Sterling Ltd. reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,737 shares of the electronics maker’s stock after selling 92 shares during the quarter. TE Connectivity comprises about 1.6% of Crescent Sterling Ltd.’s portfolio, making the stock its 22nd biggest position. Crescent Sterling Ltd.’s holdings in TE Connectivity were worth $1,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Confluence Wealth Services Inc. grew its stake in shares of TE Connectivity by 57.8% during the first quarter. Confluence Wealth Services Inc. now owns 2,316 shares of the electronics maker’s stock valued at $336,000 after purchasing an additional 848 shares during the last quarter. Legacy CG LLC grew its stake in shares of TE Connectivity by 0.9% during the first quarter. Legacy CG LLC now owns 30,903 shares of the electronics maker’s stock valued at $4,488,000 after purchasing an additional 282 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of TE Connectivity by 62.1% during the first quarter. Ashton Thomas Private Wealth LLC now owns 12,996 shares of the electronics maker’s stock valued at $1,888,000 after purchasing an additional 4,981 shares during the last quarter. American National Bank & Trust Co. VA bought a new stake in shares of TE Connectivity during the first quarter valued at approximately $2,310,000. Finally, Legacy Wealth Asset Management LLC grew its stake in shares of TE Connectivity by 2.3% during the first quarter. Legacy Wealth Asset Management LLC now owns 5,791 shares of the electronics maker’s stock valued at $841,000 after purchasing an additional 128 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.86% of the company’s stock.

TE Connectivity Trading Down 0.9 %

TEL traded down $1.35 during mid-day trading on Tuesday, hitting $141.47. The stock had a trading volume of 2,083,911 shares, compared to its average volume of 2,211,779. The stock’s fifty day simple moving average is $142.58 and its 200-day simple moving average is $136.60. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The firm has a market capitalization of $43.97 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 2.06 and a beta of 1.39. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $147.98.

TE Connectivity (NYSE:TEL) last posted its 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. The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the business posted $1.65 earnings per share. As a group, research analysts forecast that TE Connectivity Ltd. will post 7.55 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.84%. TE Connectivity’s dividend payout ratio (DPR) is presently 21.59%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TEL shares. JPMorgan Chase & Co. decreased their price target on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Citigroup started coverage on shares of TE Connectivity in a research note on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective on the stock. StockNews.com started coverage on shares of TE Connectivity in a research note on Tuesday. They issued a “buy” rating on the stock. Stifel Nicolaus raised their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. 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 note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $153.50.

TE Connectivity Company 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.