Intrust Bank NA lessened its position in TE Connectivity Ltd. (NYSE:TEL) by 12.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,473 shares of the electronics maker’s stock after selling 623 shares during the quarter. Intrust Bank NA’s holdings in TE Connectivity were worth $371,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Prudential Financial Inc. raised its position in TE Connectivity by 4.6% in the 2nd quarter. Prudential Financial Inc. now owns 511,865 shares of the electronics maker’s stock valued at $40,273,000 after buying an additional 22,478 shares during the last quarter. Calamos Advisors LLC raised its position in TE Connectivity by 2.7% in the 2nd quarter. Calamos Advisors LLC now owns 57,157 shares of the electronics maker’s stock valued at $4,497,000 after buying an additional 1,512 shares during the last quarter. Swiss National Bank raised its position in TE Connectivity by 3.0% in the 2nd quarter. Swiss National Bank now owns 1,297,509 shares of the electronics maker’s stock valued at $102,088,000 after buying an additional 38,400 shares during the last quarter. Vanguard Group Inc. raised its position in TE Connectivity by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock valued at $1,834,196,000 after buying an additional 521,884 shares during the last quarter. Finally, Atlantic Trust Group LLC raised its position in TE Connectivity by 5.0% in the 2nd quarter. Atlantic Trust Group LLC now owns 177,785 shares of the electronics maker’s stock valued at $13,989,000 after buying an additional 8,438 shares during the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of TE Connectivity Ltd. (TEL) opened at $93.36 on Tuesday. The stock has a market capitalization of $33,052.02, a price-to-earnings ratio of 19.36, a P/E/G ratio of 1.81 and a beta of 1.06. TE Connectivity Ltd. has a one year low of $66.14 and a one year high of $93.75. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.09. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 EPS. equities analysts predict that TE Connectivity Ltd. will post 5.26 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.60 annualized dividend and a yield of 1.71%. TE Connectivity’s dividend payout ratio (DPR) is presently 33.97%.
In other news, insider Thomas J. Lynch sold 130,616 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $83.37, for a total transaction of $10,889,455.92. Following the completion of the sale, the insider now directly owns 429,499 shares in the company, valued at approximately $35,807,331.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas J. Lynch sold 186,033 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $79.29, for a total value of $14,750,556.57. Following the sale, the insider now owns 298,851 shares of the company’s stock, valued at $23,695,895.79. The disclosure for this sale can be found here. Insiders sold a total of 521,346 shares of company stock valued at $44,465,473 over the last 90 days. 1.49% of the stock is currently owned by corporate insiders.
TEL has been the topic of several recent analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $95.00 price target on shares of TE Connectivity in a research report on Thursday, August 10th. BidaskClub lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Monday, September 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $87.00 price target on shares of TE Connectivity in a research report on Tuesday, October 17th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of TE Connectivity in a research report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $150.00.
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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