Lipe & Dalton Cuts Stake in TE Connectivity Ltd (TEL)

Lipe & Dalton lessened its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,318 shares of the electronics maker’s stock after selling 550 shares during the quarter. TE Connectivity makes up about 3.2% of Lipe & Dalton’s portfolio, making the stock its 10th biggest holding. Lipe & Dalton’s holdings in TE Connectivity were worth $4,386,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Riverview Trust Co purchased a new stake in TE Connectivity in the 4th quarter valued at about $25,000. Taylor Hoffman Wealth Management increased its stake in TE Connectivity by 432.8% during the fourth quarter. Taylor Hoffman Wealth Management now owns 357 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 290 shares during the period. Legacy Advisors LLC purchased a new stake in TE Connectivity during the first quarter worth about $33,000. Oregon Public Employees Retirement Fund increased its stake in TE Connectivity by 7,370.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,870,688 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 2,832,263 shares during the period. Finally, Patten Group Inc. purchased a new stake in TE Connectivity during the fourth quarter worth about $41,000. 91.53% of the stock is currently owned by institutional investors.

Shares of TE Connectivity stock traded down $0.06 during trading hours on Friday, hitting $86.67. 826,100 shares of the company were exchanged, compared to its average volume of 1,553,430. The stock has a market capitalization of $30.07 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.49 and a beta of 1.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.41 and a quick ratio of 0.90. TE Connectivity Ltd has a 1 year low of $69.84 and a 1 year high of $99.52.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.15. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.36 billion. TE Connectivity had a return on equity of 18.78% and a net margin of 20.17%. TE Connectivity’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.42 earnings per share. As a group, equities research analysts anticipate that TE Connectivity Ltd will post 5.61 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a $0.46 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.12%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.44. TE Connectivity’s dividend payout ratio (DPR) is currently 31.37%.

In related news, SVP Eric Resch sold 34,050 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $82.70, for a total transaction of $2,815,935.00. Following the sale, the senior vice president now owns 68,790 shares of the company’s stock, valued at $5,688,933. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Terrence R. Curtin sold 128,750 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $94.20, for a total value of $12,128,250.00. Following the sale, the insider now directly owns 213,719 shares in the company, valued at approximately $20,132,329.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 333,433 shares of company stock valued at $31,184,704. Company insiders own 0.80% of the company’s stock.

A number of analysts have issued reports on the stock. HC Wainwright reiterated a “sell” rating on shares of TE Connectivity in a research note on Friday, May 3rd. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research note on Monday, April 29th. Finally, ValuEngine upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $94.43.

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TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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