BT Investment Management Ltd purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,748 shares of the electronics maker’s stock, valued at approximately $5,016,000.
Several other large investors also recently made changes to their positions in TEL. Canada Pension Plan Investment Board increased its holdings in shares of TE Connectivity by 0.3% during the first quarter. Canada Pension Plan Investment Board now owns 47,026 shares of the electronics maker’s stock worth $3,506,000 after buying an additional 119 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of TE Connectivity by 234,499.1% during the first quarter. UBS Asset Management Americas Inc. now owns 1,616,388 shares of the electronics maker’s stock worth $120,502,000 after buying an additional 1,615,699 shares in the last quarter. Meadow Creek Investment Management LLC increased its holdings in shares of TE Connectivity by 8.3% during the first quarter. Meadow Creek Investment Management LLC now owns 4,608 shares of the electronics maker’s stock worth $343,000 after buying an additional 352 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of TE Connectivity during the first quarter worth $559,000. Finally, Boston Family Office LLC increased its holdings in shares of TE Connectivity by 16.7% during the first quarter. Boston Family Office LLC now owns 44,909 shares of the electronics maker’s stock worth $3,348,000 after buying an additional 6,420 shares in the last quarter. Institutional investors own 90.10% of the company’s stock.
TE Connectivity Ltd. (NYSE TEL) traded up 1.07% during mid-day trading on Friday, reaching $82.15. The company had a trading volume of 1,633,504 shares. The firm has a 50-day moving average price of $79.62 and a 200 day moving average price of $77.57. TE Connectivity Ltd. has a 12-month low of $60.59 and a 12-month high of $85.20. The firm has a market capitalization of $29.03 billion, a price-to-earnings ratio of 17.44 and a beta of 1.05.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the previous year, the firm posted $1.08 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd. will post $4.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Wednesday, August 23rd. TE Connectivity’s dividend payout ratio is currently 33.97%.
Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Cowen and Company reiterated a “buy” rating and set a $95.00 price target on shares of TE Connectivity in a report on Thursday, August 10th. Zacks Investment Research downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $86.00 price target on shares of TE Connectivity in a report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. TE Connectivity currently has an average rating of “Hold” and a consensus target price of $83.43.
In related news, insider Thomas J. Lynch sold 186,034 shares of TE Connectivity stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $78.65, for a total value of $14,631,574.10. Following the transaction, the insider now owns 504,885 shares in the company, valued at approximately $39,709,205.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas J. Lynch sold 186,033 shares of TE Connectivity stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $79.75, for a total transaction of $14,836,131.75. Following the completion of the transaction, the insider now owns 504,884 shares in the company, valued at approximately $40,264,499. The disclosure for this sale can be found here. Insiders have sold a total of 749,165 shares of company stock valued at $59,522,187 over the last ninety days. 1.30% of the stock is currently 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.
Receive News & Ratings for TE Connectivity Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.