Corient Capital Partners LLC increased its position in shares of TE Connectivity Ltd (NYSE:TEL) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,990 shares of the electronics maker’s stock after buying an additional 800 shares during the period. Corient Capital Partners LLC’s holdings in TE Connectivity were worth $1,435,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in TE Connectivity by 102.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 515 shares of the electronics maker’s stock valued at $49,000 after acquiring an additional 260 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of TE Connectivity by 854,554.5% in the first quarter. Rockefeller Capital Management L.P. now owns 846,108 shares of the electronics maker’s stock valued at $68,324,000 after buying an additional 846,009 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of TE Connectivity by 15.0% during the second quarter. Valeo Financial Advisors LLC now owns 1,535 shares of the electronics maker’s stock worth $147,000 after purchasing an additional 200 shares in the last quarter. Cerebellum GP LLC increased its position in shares of TE Connectivity by 14.7% during the first quarter. Cerebellum GP LLC now owns 4,067 shares of the electronics maker’s stock worth $328,000 after purchasing an additional 520 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. purchased a new stake in shares of TE Connectivity during the second quarter worth approximately $221,000. Institutional investors own 90.56% of the company’s stock.
In related news, Director Thomas J. Lynch sold 124,400 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $93.41, for a total value of $11,620,204.00. Following the transaction, the director now owns 290,316 shares in the company, valued at $27,118,417.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Robert J. Ott sold 22,400 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $92.01, for a total value of $2,061,024.00. Following the completion of the sale, the senior vice president now directly owns 39,554 shares of the company’s stock, valued at $3,639,363.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,500 shares of company stock worth $23,737,285. 0.80% of the stock is currently owned by insiders.
Several analysts recently commented on the company. Morgan Stanley dropped their price target on TE Connectivity from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Cross Research cut TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Goldman Sachs Group raised TE Connectivity from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $105.00 in a research note on Thursday, June 20th. Longbow Research lowered TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 price target on the stock. in a research note on Monday, June 17th. Finally, Wells Fargo & Co downgraded TE Connectivity from an “outperform” rating to a “market perform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $92.21.
TE Connectivity stock opened at $97.36 on Friday. The company has a market capitalization of $32.17 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 1.62 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 1.47. TE Connectivity Ltd has a fifty-two week low of $69.84 and a fifty-two week high of $97.99. The stock has a fifty day moving average of $91.11 and a two-hundred day moving average of $89.30.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.08. TE Connectivity had a return on equity of 18.33% and a net margin of 22.94%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter last year, the firm earned $1.43 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts forecast that TE Connectivity Ltd will post 5.52 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Thursday, August 22nd. TE Connectivity’s dividend payout ratio is presently 32.80%.
About TE Connectivity
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors 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.
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