Resonant Capital Advisors LLC Cuts Stake in TE Connectivity Ltd. (NYSE:TEL)

Resonant Capital Advisors LLC lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,131 shares of the electronics maker’s stock after selling 307 shares during the period. Resonant Capital Advisors LLC’s holdings in TE Connectivity were worth $721,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position 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 buying an additional 190 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of TE Connectivity during the 4th quarter worth $30,000. Arlington Trust Co LLC acquired a new position in shares of TE Connectivity during the 3rd quarter worth $35,000. Money Concepts Capital Corp grew its stake in shares of TE Connectivity by 101.3% during the 4th quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 162 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of TE Connectivity by 176.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock worth $46,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. JPMorgan Chase & Co. increased their price objective on shares of TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Sunday, April 14th. They issued a “buy” rating on the stock. Finally, Citigroup initiated 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. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

Insiders Place Their Bets

In other news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the transaction, the insider now directly owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.86% of the stock is owned by corporate insiders.

TE Connectivity Price Performance

TE Connectivity stock opened at $140.55 on Friday. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $147.98. The stock has a market capitalization of $43.68 billion, a P/E ratio of 13.33, a P/E/G ratio of 2.00 and a beta of 1.39. The firm’s 50-day moving average is $142.65 and its two-hundred day moving average is $135.52. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the company earned $1.53 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts predict that TE Connectivity Ltd. will post 7.59 earnings per share for the current year.

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.85%. TE Connectivity’s dividend payout ratio is currently 22.39%.

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.