Carnegie Investment Counsel Buys 908 Shares of TE Connectivity Ltd. $TEL

Carnegie Investment Counsel boosted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 0.8% during the second quarter, Holdings Channel.com reports. The fund owned 117,930 shares of the electronics maker’s stock after buying an additional 908 shares during the quarter. Carnegie Investment Counsel’s holdings in TE Connectivity were worth $19,891,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEL. Princeton Global Asset Management LLC purchased a new stake in TE Connectivity during the 2nd quarter valued at about $26,000. Costello Asset Management INC purchased a new stake in TE Connectivity during the 1st quarter valued at about $28,000. Salomon & Ludwin LLC boosted its holdings 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 acquiring an additional 66 shares during the period. Millstone Evans Group LLC purchased a new stake in TE Connectivity during the 1st quarter valued at about $32,000. Finally, Richardson Financial Services Inc. purchased a new stake in TE Connectivity in the 2nd quarter worth approximately $33,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TE Connectivity

In related news, SVP Malavika Sagar sold 1,945 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $207.20, for a total transaction of $403,004.00. Following the completion of the transaction, the senior vice president owned 4,716 shares of the company’s stock, valued at $977,155.20. This trade represents a 29.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John S. Jenkins sold 45,850 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $209.33, for a total value of $9,597,780.50. Following the transaction, the executive vice president directly owned 24,625 shares of the company’s stock, valued at approximately $5,154,751.25. This trade represents a 65.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,645 shares of company stock valued at $14,842,096. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 2.1%

Shares of NYSE:TEL opened at $234.02 on Friday. TE Connectivity Ltd. has a 52-week low of $116.30 and a 52-week high of $237.50. The firm has a market capitalization of $69.15 billion, a P/E ratio of 48.45, a P/E/G ratio of 2.47 and a beta of 1.26. The stock has a 50 day moving average price of $214.46 and a 200-day moving average price of $182.51. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.96 and a current ratio of 1.52.

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 the consensus estimate of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%.The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the company earned $1.91 EPS. The business’s revenue was up 13.9% compared to the same quarter last year. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.2%. TE Connectivity’s dividend payout ratio is currently 58.80%.

Analyst Ratings Changes

Several research firms have weighed in on TEL. Wells Fargo & Company increased their price objective on TE Connectivity from $198.00 to $215.00 and gave the stock an “equal weight” rating in a report on Thursday, September 25th. JPMorgan Chase & Co. increased their price objective on TE Connectivity from $186.00 to $204.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Zacks Research cut TE Connectivity from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. UBS Group increased their price objective on TE Connectivity from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Bank of America increased their price objective on TE Connectivity from $168.00 to $190.00 and gave the stock a “buy” rating in a report 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.00.

TE Connectivity Profile

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.