Thrivent Financial for Lutherans Decreases Position in TE Connectivity Ltd. (NYSE:TEL)

Thrivent Financial for Lutherans trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,023 shares of the electronics maker’s stock after selling 4,599 shares during the period. Thrivent Financial for Lutherans’ holdings in TE Connectivity were worth $5,454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TEL. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity during the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. boosted its stake in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 107 shares during the period. Fairway Wealth LLC purchased a new position in shares of TE Connectivity in the fourth quarter worth $43,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity during the 4th quarter valued at $44,000. Finally, Hilltop National Bank purchased a new stake in TE Connectivity during the 4th quarter valued at $55,000. 91.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Trading Up 2.0 %

Shares of NYSE TEL opened at $149.04 on Tuesday. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a 50-day moving average of $149.07 and a 200 day moving average of $148.35. The stock has a market cap of $44.47 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 EPS. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.91%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is 45.37%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Wells Fargo & Company lifted their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Finally, HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $167.00.

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.