Whittier Trust Co. Cuts Stake in TE Connectivity Ltd. (TEL)

Whittier Trust Co. lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,849 shares of the electronics maker’s stock after selling 17 shares during the period. Whittier Trust Co.’s holdings in TE Connectivity were worth $382,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Daiwa SB Investments Ltd. bought a new position in TE Connectivity during the first quarter valued at $101,000. Guardian Life Insurance Co. of America boosted 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 valued at $102,000 after buying an additional 9 shares in the last quarter. Portfolio Solutions LLC purchased a new stake in shares of TE Connectivity during the first quarter valued at $104,000. First Command Bank boosted 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 valued at $106,000 after buying an additional 221 shares in the last quarter. Finally, Webster Bank N. A. boosted 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 valued at $116,000 after buying an additional 1,350 shares in the last quarter. 90.37% of the stock is currently owned by institutional investors and hedge funds.

Shares of TE Connectivity Ltd. (NYSE:TEL) traded up 0.13% during trading on Friday, reaching $77.71. The company had a trading volume of 1,407,046 shares. The firm’s 50 day moving average price is $80.26 and its 200 day moving average price is $76.97. The firm has a market capitalization of $27.46 billion, a P/E 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.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the business earned $1.08 EPS. TE Connectivity’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts predict that TE Connectivity Ltd. will post $4.75 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, August 23rd. TE Connectivity’s dividend payout ratio is 33.97%.

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A number of equities research analysts recently weighed in on the company. BidaskClub cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Cowen and Company reiterated a “buy” rating and issued a $95.00 price target on shares of TE Connectivity in a research note on Thursday, August 10th. Zacks Investment Research cut TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $86.00 price target on shares of TE Connectivity in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. TE Connectivity has an average rating of “Hold” and a consensus price target of $83.43.

In other news, SVP Robert J. Ott sold 31,400 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $79.14, for a total transaction of $2,484,996.00. Following the transaction, the senior vice president now owns 42,371 shares in the company, valued at approximately $3,353,240.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Joseph B. Donahue sold 6,300 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $80.70, for a total transaction of $508,410.00. Following the transaction, the chief operating officer now owns 34,609 shares in the company, valued at approximately $2,792,946.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 726,407 shares of company stock valued at $57,751,239. Company insiders own 1.30% of the company’s stock.

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.

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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