Aperio Group LLC boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 13.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,022 shares of the electronics maker’s stock after buying an additional 17,209 shares during the period. Aperio Group LLC’s holdings in TE Connectivity were worth $11,174,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of TEL. First Command Bank raised its stake in shares of TE Connectivity by 19.6% in the second quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock worth $106,000 after buying an additional 221 shares during the period. Daiwa SB Investments Ltd. purchased a new stake in shares of TE Connectivity during the first quarter worth approximately $101,000. Guardian Life Insurance Co. of America raised its stake in shares of TE Connectivity by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock worth $102,000 after buying an additional 9 shares during the period. Portfolio Solutions LLC purchased a new stake in shares of TE Connectivity during the first quarter worth approximately $104,000. Finally, Webster Bank N. A. raised its stake in shares of TE Connectivity by 675.0% in the first quarter. Webster Bank N. A. now owns 1,550 shares of the electronics maker’s stock worth $116,000 after buying an additional 1,350 shares during the period. Institutional investors own 90.37% of the company’s stock.
TE Connectivity Ltd. (NYSE:TEL) traded up 0.13% during mid-day trading on Friday, reaching $77.71. The company had a trading volume of 1,407,046 shares. The company has a market capitalization of $27.46 billion, a P/E ratio of 16.50 and a beta of 1.06. The stock has a 50 day moving average price of $80.26 and a 200 day moving average price of $76.97. TE Connectivity Ltd. has a one year low of $60.38 and a one year high of $85.20.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.07. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter last year, the firm earned $1.08 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts expect that TE Connectivity Ltd. will post $4.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $1.60 annualized dividend and a yield of 2.06%. TE Connectivity’s payout ratio is 33.97%.
A number of brokerages have recently commented on TEL. BidaskClub lowered TE Connectivity from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Cowen and Company restated a “buy” rating and issued a $95.00 price target on shares of TE Connectivity in a report on Thursday, August 10th. Zacks Investment Research lowered TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Finally, Royal Bank Of Canada boosted their price target on TE Connectivity from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. TE Connectivity has an average rating of “Hold” and an average price target of $83.43.
In related news, SVP Robert J. Ott sold 31,400 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $79.14, for a total value of $2,484,996.00. Following the transaction, the senior vice president now owns 42,371 shares of the company’s stock, valued at approximately $3,353,240.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Joseph B. Donahue sold 52,575 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $80.03, for a total transaction of $4,207,577.25. Following the completion of the transaction, the chief operating officer now directly owns 93,484 shares in the company, valued at approximately $7,481,524.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 726,407 shares of company stock worth $57,751,239. 1.30% of the stock is owned by insiders.
About TE Connectivity
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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