Raymond James & Associates Sells 202,501 Shares of TE Connectivity Ltd. (NYSE:TEL)

Raymond James & Associates decreased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 30.9% in the first quarter, Holdings Channel.com reports. The fund owned 453,373 shares of the electronics maker’s stock after selling 202,501 shares during the period. Raymond James & Associates’ holdings in TE Connectivity were worth $65,848,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JFS Wealth Advisors LLC boosted its holdings in shares of TE Connectivity by 97.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 91 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in TE Connectivity in the 4th quarter worth approximately $30,000. Crewe Advisors LLC purchased a new stake in shares of TE Connectivity during the 4th quarter worth approximately $33,000. Finally, Jones Financial Companies Lllp boosted its position in shares of TE Connectivity by 358.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 190 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TE Connectivity

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

TE Connectivity Trading Up 1.4 %

Shares of NYSE TEL traded up $1.99 during midday trading on Friday, hitting $142.00. The company’s stock had a trading volume of 1,197,854 shares, compared to its average volume of 2,325,435. The business’s 50 day moving average is $142.46 and its two-hundred day moving average is $136.77. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $147.98. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The firm has a market cap of $43.48 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 2.06 and a beta of 1.36.

TE Connectivity (NYSE:TEL) last released 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 business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. 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 company earned $1.65 earnings per share. As a group, equities research analysts expect that TE Connectivity Ltd. will post 7.51 EPS for the current year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.60 dividend on an annualized basis and a yield of 1.83%. TE Connectivity’s dividend payout ratio is currently 21.59%.

Analyst Ratings Changes

Several brokerages recently weighed in on TEL. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Robert W. Baird reduced their target price on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Citigroup assumed coverage on shares of TE Connectivity in a report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price target for the company. StockNews.com initiated coverage on TE Connectivity in a research note on Tuesday. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. dropped their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Five equities research 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $153.50.

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.