Desjardins Global Asset Management Inc. Has $1.03 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Desjardins Global Asset Management Inc. trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 28.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,321 shares of the electronics maker’s stock after selling 2,901 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in TE Connectivity were worth $1,029,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. IHT Wealth Management LLC lifted its position in shares of TE Connectivity by 3.6% during the 2nd quarter. IHT Wealth Management LLC now owns 2,321 shares of the electronics maker’s stock worth $325,000 after purchasing an additional 80 shares during the last quarter. Vista Investment Management boosted its holdings in TE Connectivity by 0.7% in the 3rd quarter. Vista Investment Management now owns 11,970 shares of the electronics maker’s stock valued at $1,479,000 after purchasing an additional 84 shares during the period. Bison Wealth LLC grew its position in TE Connectivity by 1.4% in the 3rd quarter. Bison Wealth LLC now owns 6,576 shares of the electronics maker’s stock worth $812,000 after purchasing an additional 88 shares during the last quarter. Caprock Group LLC increased its holdings in shares of TE Connectivity by 1.6% during the 4th quarter. Caprock Group LLC now owns 5,581 shares of the electronics maker’s stock worth $784,000 after purchasing an additional 88 shares during the period. Finally, GHP Investment Advisors Inc. raised its position in shares of TE Connectivity by 14.2% during the third quarter. GHP Investment Advisors Inc. now owns 756 shares of the electronics maker’s stock valued at $92,000 after buying an additional 94 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TEL. Citigroup assumed coverage on TE Connectivity in a research note on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. StockNews.com started coverage on TE Connectivity in a research note on Sunday. They issued a “buy” rating for the company. Robert W. Baird lifted their price target on shares of TE Connectivity from $147.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Stifel Nicolaus increased their price objective on shares of TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

Insiders Place Their Bets

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the transaction, the insider now owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.86% of the company’s stock.

TE Connectivity Stock Down 1.0 %

Shares of NYSE:TEL opened at $141.48 on Thursday. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $147.98. The firm has a market cap of $43.97 billion, a P/E ratio of 13.42, a P/E/G ratio of 2.03 and a beta of 1.39. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $142.77 and its two-hundred day moving average price is $135.37.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the business posted $1.53 earnings per share. TE Connectivity’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, research analysts forecast that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is 22.39%.

TE Connectivity 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.