Studio Investment Management LLC Has $1.08 Million Holdings in TE Connectivity Ltd. $TEL

Studio Investment Management LLC boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 28.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 6,376 shares of the electronics maker’s stock after buying an additional 1,417 shares during the quarter. Studio Investment Management LLC’s holdings in TE Connectivity were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Princeton Global Asset Management LLC acquired a new position in TE Connectivity during the 2nd quarter valued at $26,000. Costello Asset Management INC acquired a new position in TE Connectivity during the 1st quarter valued at $28,000. Salomon & Ludwin LLC raised its stake in TE Connectivity by 58.9% during the 2nd quarter. Salomon & Ludwin LLC now owns 178 shares of the electronics maker’s stock valued at $31,000 after purchasing an additional 66 shares during the last quarter. Millstone Evans Group LLC acquired a new position in TE Connectivity during the 1st quarter valued at $32,000. Finally, Richardson Financial Services Inc. acquired a new position in TE Connectivity during the 2nd quarter valued at $33,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 23,850 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the sale, the insider owned 25,976 shares of the company’s stock, valued at $5,272,868.24. This represents a 47.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Malavika Sagar sold 1,945 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $207.20, for a total transaction of $403,004.00. Following the sale, the senior vice president directly owned 4,716 shares in the company, valued at approximately $977,155.20. This represents a 29.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,645 shares of company stock valued at $14,842,096 in the last 90 days. 0.90% of the stock is currently owned by insiders.

TE Connectivity Trading Up 1.1%

Shares of TE Connectivity stock opened at $228.39 on Wednesday. The stock has a market capitalization of $67.48 billion, a P/E ratio of 47.29, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26. The company has a quick ratio of 0.96, a current ratio of 1.52 and a debt-to-equity ratio of 0.39. The company has a 50-day simple moving average of $213.47 and a 200 day simple moving average of $181.42. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $234.50.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.19. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the company posted $1.91 EPS. Research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.2%. TE Connectivity’s dividend payout ratio is currently 58.80%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TEL. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $198.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, September 25th. JPMorgan Chase & Co. increased their price objective on shares of TE Connectivity from $186.00 to $204.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. KGI Securities upgraded shares of TE Connectivity to a “hold” rating in a research note on Thursday, July 24th. Citigroup increased their price objective on shares of TE Connectivity from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Bank of America increased their price objective on shares of TE Connectivity from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $222.00.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.