TE Connectivity Ltd. $TEL Stock Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its position in TE Connectivity Ltd. (NYSE:TEL) by 24.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 392,301 shares of the electronics maker’s stock after selling 130,005 shares during the period. Russell Investments Group Ltd. owned about 0.14% of TE Connectivity worth $82,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in shares of TE Connectivity by 5.7% in the second quarter. State Street Corp now owns 13,639,381 shares of the electronics maker’s stock valued at $2,750,079,000 after buying an additional 730,084 shares during the period. Wellington Management Group LLP grew its stake in shares of TE Connectivity by 48.2% during the 2nd quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker’s stock worth $1,554,259,000 after acquiring an additional 2,507,569 shares during the period. Baird Financial Group Inc. increased its holdings in TE Connectivity by 3.5% in the 2nd quarter. Baird Financial Group Inc. now owns 3,237,914 shares of the electronics maker’s stock worth $652,796,000 after acquiring an additional 109,020 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in TE Connectivity by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,958,535 shares of the electronics maker’s stock worth $618,121,000 after acquiring an additional 118,284 shares during the last quarter. Finally, Amundi raised its stake in TE Connectivity by 37.2% in the 1st quarter. Amundi now owns 2,256,878 shares of the electronics maker’s stock valued at $471,733,000 after acquiring an additional 612,180 shares during the period. 91.43% of the stock is owned by institutional investors.

TE Connectivity Price Performance

Shares of TEL traded down $1.60 during mid-day trading on Friday, reaching $216.22. 1,350,112 shares of the stock traded hands, compared to its average volume of 2,151,961. The firm has a fifty day moving average price of $213.45 and a 200 day moving average price of $212.28. The company has a market cap of $61.99 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.36 and a beta of 1.15. The company has a current ratio of 1.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.07. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. TE Connectivity had a net margin of 16.36% and a return on equity of 25.55%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. As a group, equities research analysts predict that TE Connectivity Ltd. will post 13.52 earnings per share for the current year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $3.12 annualized dividend and a dividend yield of 1.4%. TE Connectivity’s dividend payout ratio (DPR) is presently 28.18%.

Analyst Upgrades and Downgrades

TEL has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of TE Connectivity from $209.00 to $220.00 and gave the company a “cautious” rating in a report on Friday, September 11th. HSBC lowered their price target on shares of TE Connectivity from $234.00 to $216.00 and set a “hold” rating on the stock in a research report on Thursday, July 23rd. Robert W. Baird upped their price target on shares of TE Connectivity from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, October 6th. Sanford C. Bernstein started coverage on shares of TE Connectivity in a report on Wednesday, September 23rd. They issued an “outperform” rating and a $243.00 price objective for the company. Finally, Barclays lifted their price objective on shares of TE Connectivity from $300.00 to $304.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Eleven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $255.50.

About TE Connectivity

TE Connectivity (NYSE: TEL) designs and manufactures connectivity and sensor solutions used to transmit data, power and signals. Its products include connectors, terminals, relays, antennas and sensors, as well as related components and systems. The company serves customers in industries including automotive, industrial equipment, communications, aerospace and defense, medical technology, and energy. Its products are used in applications ranging from vehicles and factory automation to telecommunications infrastructure and aircraft.