Tower Bridge Advisors purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,005 shares of the electronics maker’s stock, valued at approximately $499,000.
A number of other large investors have also made changes to their positions in TEL. Renaissance Technologies LLC purchased a new position in TE Connectivity during the 1st quarter valued at about $3,601,000. Fox Run Management L.L.C. increased its holdings in TE Connectivity by 62.1% during the 2nd quarter. Fox Run Management L.L.C. now owns 4,600 shares of the electronics maker’s stock valued at $362,000 after purchasing an additional 1,763 shares during the period. Creative Planning increased its holdings in TE Connectivity by 6.3% during the 2nd quarter. Creative Planning now owns 20,372 shares of the electronics maker’s stock valued at $1,603,000 after purchasing an additional 1,204 shares during the period. State of Alaska Department of Revenue increased its holdings in TE Connectivity by 42.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,670 shares of the electronics maker’s stock valued at $367,000 after purchasing an additional 1,391 shares during the period. Finally, Eqis Capital Management Inc. increased its holdings in TE Connectivity by 116.7% during the 2nd quarter. Eqis Capital Management Inc. now owns 7,086 shares of the electronics maker’s stock valued at $558,000 after purchasing an additional 3,816 shares during the period. Institutional investors own 90.07% of the company’s stock.
A number of research analysts recently issued reports on TEL shares. BidaskClub downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Morgan Stanley cut their price objective on TE Connectivity from GBX 350 ($4.60) to GBX 269 ($3.54) and set an “overweight” rating on the stock in a research report on Tuesday, August 8th. Royal Bank Of Canada cut their price objective on TE Connectivity from GBX 300 ($3.95) to GBX 225 ($2.96) and set an “outperform” rating on the stock in a research report on Thursday, August 10th. Cowen and Company reaffirmed a “buy” rating and set a $95.00 price objective on shares of TE Connectivity in a research report on Thursday, August 10th. Finally, Zacks Investment Research cut TE Connectivity from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $150.00.
In other news, CFO Heath A. Mitts sold 10,736 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $93.14, for a total value of $999,951.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Joseph B. Donahue sold 8,843 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $93.25, for a total value of $824,609.75. Following the completion of the sale, the chief operating officer now directly owns 44,480 shares in the company, valued at $4,147,760. The disclosure for this sale can be found here. Over the last three months, insiders sold 521,346 shares of company stock worth $44,465,473. Insiders own 1.49% of the company’s stock.
Shares of TE Connectivity Ltd. (TEL) opened at $93.36 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07. TE Connectivity Ltd. has a 12-month low of $66.14 and a 12-month high of $93.75. The company has a market capitalization of $33,052.02, a P/E ratio of 19.36, a PEG ratio of 1.81 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. research analysts predict that TE Connectivity Ltd. will post 5.26 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be given a $0.40 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.71%. TE Connectivity’s dividend payout ratio is currently 33.97%.
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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