NGAM Advisors L.P. decreased its position in TE Connectivity Ltd. (NYSE:TEL) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 227,225 shares of the electronics maker’s stock after selling 327 shares during the period. NGAM Advisors L.P. owned about 0.06% of TE Connectivity worth $17,878,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in TEL. Morgan Stanley boosted its position in shares of TE Connectivity by 55.6% in the first quarter. Morgan Stanley now owns 1,552,290 shares of the electronics maker’s stock valued at $115,724,000 after buying an additional 554,403 shares in the last quarter. Eqis Capital Management Inc. boosted its position in shares of TE Connectivity by 116.7% in the second quarter. Eqis Capital Management Inc. now owns 7,086 shares of the electronics maker’s stock valued at $558,000 after buying an additional 3,816 shares in the last quarter. Howland Capital Management LLC boosted its position in shares of TE Connectivity by 0.4% in the first quarter. Howland Capital Management LLC now owns 266,606 shares of the electronics maker’s stock valued at $19,875,000 after buying an additional 1,019 shares in the last quarter. First Manhattan Co. boosted its position in shares of TE Connectivity by 18.1% in the first quarter. First Manhattan Co. now owns 3,918 shares of the electronics maker’s stock valued at $252,000 after buying an additional 600 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of TE Connectivity by 56.5% in the first quarter. Toronto Dominion Bank now owns 95,909 shares of the electronics maker’s stock valued at $7,149,000 after buying an additional 34,630 shares in the last quarter. Institutional investors own 90.37% of the company’s stock.
Shares of TE Connectivity Ltd. (NYSE:TEL) opened at 77.71 on Friday. The firm has a market capitalization of $27.46 billion, a PE ratio of 16.50 and a beta of 1.06. TE Connectivity Ltd. has a 12-month low of $60.38 and a 12-month high of $85.20. The company’s 50 day moving average is $80.26 and its 200 day moving average is $76.97.
TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.07. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 earnings per share. On average, analysts forecast that TE Connectivity Ltd. will post $4.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $1.60 annualized dividend and a yield of 2.06%. TE Connectivity’s dividend payout ratio (DPR) is currently 33.97%.
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Several equities analysts have recently issued reports on TEL shares. Zacks Investment Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Morgan Stanley lifted their price objective on shares of TE Connectivity from $85.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Deutsche Bank AG lifted their target price on shares of TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $86.00 target price on shares of TE Connectivity in a research report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $83.43.
In related news, SVP Robert J. Ott sold 31,400 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $79.14, for a total transaction of $2,484,996.00. Following the completion of the sale, the senior vice president now owns 42,371 shares in the company, valued at $3,353,240.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Joseph B. Donahue sold 52,575 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $80.03, for a total value of $4,207,577.25. Following the completion of the transaction, the chief operating officer now owns 93,484 shares of the company’s stock, valued at approximately $7,481,524.52. The disclosure for this sale can be found here. Insiders have sold 726,407 shares of company stock valued at $57,751,239 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.
TE Connectivity Company Profile
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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