North Star Investment Management Corp. Decreases Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

North Star Investment Management Corp. lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 25.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,035 shares of the electronics maker’s stock after selling 1,012 shares during the quarter. North Star Investment Management Corp.’s holdings in TE Connectivity were worth $429,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of TE Connectivity in the fourth quarter worth about $820,000. Allspring Global Investments Holdings LLC lifted its holdings in TE Connectivity by 29.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 86,914 shares of the electronics maker’s stock worth $12,224,000 after buying an additional 19,563 shares during the period. Nations Financial Group Inc. IA ADV lifted its holdings in TE Connectivity by 64.0% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 13,702 shares of the electronics maker’s stock worth $1,959,000 after buying an additional 5,346 shares during the period. Manchester Capital Management LLC raised its holdings in shares of TE Connectivity by 10.3% during the fourth quarter. Manchester Capital Management LLC now owns 2,184 shares of the electronics maker’s stock valued at $312,000 after acquiring an additional 204 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in TE Connectivity by 3.5% in the fourth quarter. Congress Asset Management Co. now owns 97,044 shares of the electronics maker’s stock worth $13,874,000 after acquiring an additional 3,309 shares during the period. Institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling

In other news, SVP Malavika Sagar sold 3,125 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the sale, the senior vice president now owns 5,927 shares of the company’s stock, valued at $948,320. This trade represents a 34.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Heath A. Mitts sold 53,306 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $159.21, for a total value of $8,486,848.26. Following the sale, the chief financial officer now owns 45,503 shares in the company, valued at $7,244,532.63. The trade was a 53.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,675 shares of company stock valued at $27,369,059 over the last three months. 0.90% of the stock is owned by company insiders.

TE Connectivity Trading Down 2.1%

Shares of TEL opened at $162.48 on Monday. The company’s fifty day simple moving average is $150.32 and its 200-day simple moving average is $148.07. The company has a market cap of $48.18 billion, a P/E ratio of 25.96, a P/E/G ratio of 2.11 and a beta of 1.23. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $167.94.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 EPS. As a group, analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.75%. TE Connectivity’s payout ratio is currently 62.42%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TEL. HSBC upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group reduced their target price on TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Hsbc Global Res raised TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. UBS Group upped their price target on TE Connectivity from $163.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Finally, Wells Fargo & Company increased their price objective on TE Connectivity from $148.00 to $156.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.50.

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.