PNC Financial Services Group Inc. Has $16.14 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

PNC Financial Services Group Inc. reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 114,882 shares of the electronics maker’s stock after selling 254 shares during the period. PNC Financial Services Group Inc.’s holdings in TE Connectivity were worth $16,141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JFS Wealth Advisors LLC boosted its holdings in TE Connectivity by 97.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after acquiring an additional 91 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in TE Connectivity in the fourth quarter valued at approximately $30,000. Crewe Advisors LLC bought a new position in TE Connectivity during the fourth quarter worth about $33,000. Jones Financial Companies Lllp lifted its holdings 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 purchasing an additional 190 shares in the last quarter. Finally, Sachetta LLC bought a new position in shares of TE Connectivity in the fourth quarter worth $34,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,892,763.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Shadrak W. Kroeger sold 5,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,892,763.36. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

TE Connectivity Trading Up 1.9 %

TE Connectivity stock opened at $150.18 on Tuesday. The firm has a market cap of $45.99 billion, a PE ratio of 13.74, a P/E/G ratio of 2.17 and a beta of 1.35. 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 stock’s 50 day simple moving average is $146.47 and its two-hundred day simple moving average is $142.16. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $152.79.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. Analysts anticipate that TE Connectivity Ltd. will post 7.5 earnings per share for the current year.

TE Connectivity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Friday, February 21st. TE Connectivity’s dividend payout ratio is presently 23.79%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TEL shares. JPMorgan Chase & Co. reduced their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. StockNews.com started coverage on TE Connectivity in a research report on Monday. They set a “buy” rating for the company. Robert W. Baird cut their target price on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Finally, Jefferies Financial Group started coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.89.

TE Connectivity Company 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.