Transcend Capital Advisors LLC Cuts Stake in TE Connectivity Ltd. $TEL

Transcend Capital Advisors LLC reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 8.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 15,877 shares of the electronics maker’s stock after selling 1,514 shares during the quarter. Transcend Capital Advisors LLC’s holdings in TE Connectivity were worth $2,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bessemer Group Inc. boosted its holdings in shares of TE Connectivity by 22.0% in the 2nd quarter. Bessemer Group Inc. now owns 548,199 shares of the electronics maker’s stock worth $92,464,000 after buying an additional 98,918 shares during the last quarter. Pasadena Private Wealth LLC purchased a new position in shares of TE Connectivity in the 2nd quarter worth about $230,000. Envestnet Asset Management Inc. boosted its holdings in shares of TE Connectivity by 8.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,418,075 shares of the electronics maker’s stock worth $239,187,000 after buying an additional 114,342 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of TE Connectivity by 2.9% in the 2nd quarter. Brighton Jones LLC now owns 6,078 shares of the electronics maker’s stock worth $1,025,000 after buying an additional 174 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC purchased a new position in shares of TE Connectivity in the 2nd quarter worth about $246,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Trading Up 0.7%

Shares of TEL opened at $235.66 on Monday. The business’s 50-day moving average price is $215.12 and its 200-day moving average price is $184.06. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $237.63. The stock has a market cap of $69.63 billion, a PE ratio of 48.79, a P/E/G ratio of 2.54 and a beta of 1.26. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39.

TE Connectivity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a dividend of $0.71 per share. The ex-dividend date is Friday, November 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.2%. TE Connectivity’s dividend payout ratio is currently 58.80%.

Wall Street Analyst Weigh In

Several research firms have commented on TEL. Zacks Research downgraded shares of TE Connectivity from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TE Connectivity in a report on Friday. Robert W. Baird upped their price objective on shares of TE Connectivity from $222.00 to $238.00 and gave the company an “outperform” rating in a report on Friday, October 10th. JPMorgan Chase & Co. upped their price objective on shares of TE Connectivity from $186.00 to $204.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Bank of America upped their price objective on shares of TE Connectivity from $168.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $222.00.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 23,850 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the sale, the insider directly owned 25,976 shares in the company, valued at $5,272,868.24. This represents a 47.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

About TE Connectivity

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.