Tredje AP fonden reduced its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 50.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 24,499 shares of the electronics maker’s stock after selling 25,098 shares during the period. Tredje AP fonden’s holdings in TE Connectivity were worth $2,716,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of TE Connectivity by 0.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,342 shares of the electronics maker’s stock valued at $7,508,000 after acquiring an additional 270 shares during the period. Clarius Group LLC acquired a new stake in TE Connectivity in the 4th quarter valued at $216,000. J.W. Cole Advisors Inc. purchased a new position in TE Connectivity in the fourth quarter valued at about $353,000. Telos Capital Management Inc. purchased a new position in TE Connectivity in the fourth quarter valued at about $220,000. Finally, Advisor Partners LLC lifted its stake in shares of TE Connectivity by 13.5% during the fourth quarter. Advisor Partners LLC now owns 13,667 shares of the electronics maker’s stock worth $1,351,000 after purchasing an additional 1,629 shares in the last quarter. 90.49% of the stock is owned by institutional investors.
TEL stock traded down $0.06 during mid-day trading on Friday, hitting $76.23. 1,186,299 shares of the company were exchanged, compared to its average volume of 1,852,155. The firm has a fifty day simple moving average of $69.65 and a 200 day simple moving average of $84.15. The company has a market capitalization of $25.16 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.95 and a beta of 1.31. TE Connectivity Ltd has a twelve month low of $48.62 and a twelve month high of $101.00. The company has a current ratio of 1.44, a quick ratio of 0.94 and a debt-to-equity ratio of 0.41.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.00 by $0.29. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. TE Connectivity had a net margin of 5.36% and a return on equity of 17.58%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.42 earnings per share. As a group, sell-side analysts anticipate that TE Connectivity Ltd will post 3.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Thursday, May 21st. This is an increase from TE Connectivity’s previous quarterly dividend of $0.46. TE Connectivity’s dividend payout ratio (DPR) is currently 34.59%.
A number of research firms have recently issued reports on TEL. Zacks Investment Research upgraded TE Connectivity from a “sell” rating to a “hold” rating and set a $72.00 target price for the company in a research note on Friday, May 15th. Morgan Stanley lowered their price objective on shares of TE Connectivity from $91.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 18th. Bank of America dropped their price objective on shares of TE Connectivity from $109.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Loop Capital initiated coverage on shares of TE Connectivity in a research note on Monday, April 20th. They issued a “buy” rating and a $80.00 target price for the company. Finally, Oppenheimer assumed coverage on shares of TE Connectivity in a report on Wednesday, May 6th. They set a “buy” rating and a $92.00 price target for the company. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $92.12.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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