IndexIQ Advisors LLC raised its holdings in TE Connectivity Ltd (NYSE:TEL) by 27.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,864 shares of the electronics maker’s stock after purchasing an additional 11,318 shares during the period. IndexIQ Advisors LLC’s holdings in TE Connectivity were worth $4,971,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in TEL. BlackRock Inc. grew its stake in shares of TE Connectivity by 4.3% in the 2nd quarter. BlackRock Inc. now owns 16,809,367 shares of the electronics maker’s stock worth $1,610,001,000 after purchasing an additional 698,506 shares during the last quarter. NuWave Investment Management LLC lifted its stake in TE Connectivity by 3,729.7% in the 3rd quarter. NuWave Investment Management LLC now owns 2,451 shares of the electronics maker’s stock worth $227,000 after acquiring an additional 2,387 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in TE Connectivity by 11.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,383 shares of the electronics maker’s stock worth $1,992,000 after acquiring an additional 2,119 shares during the period. Signaturefd LLC boosted its position in TE Connectivity by 3.3% during the 3rd quarter. Signaturefd LLC now owns 8,553 shares of the electronics maker’s stock worth $797,000 after acquiring an additional 273 shares during the period. Finally, Advisor Partners LLC boosted its position in TE Connectivity by 14.0% during the 3rd quarter. Advisor Partners LLC now owns 12,038 shares of the electronics maker’s stock worth $1,122,000 after acquiring an additional 1,481 shares during the period. 90.97% of the stock is currently owned by institutional investors.
TE Connectivity stock opened at $94.75 on Thursday. TE Connectivity Ltd has a one year low of $79.98 and a one year high of $101.00. The company’s fifty day moving average price is $96.53 and its two-hundred day moving average price is $93.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.64 and a quick ratio of 1.05. The company has a market capitalization of $31.14 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.68 and a beta of 1.20.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.07. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.12 billion. TE Connectivity had a return on equity of 17.72% and a net margin of 12.01%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.29 EPS. As a group, sell-side analysts anticipate that TE Connectivity Ltd will post 5.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 21st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, February 20th. TE Connectivity’s payout ratio is 33.15%.
TEL has been the topic of a number of research reports. SunTrust Banks reiterated a “hold” rating and issued a $102.00 target price on shares of TE Connectivity in a report on Thursday, January 30th. They noted that the move was a valuation call. Oppenheimer boosted their target price on TE Connectivity from to in a research note on Thursday, January 30th. Zacks Investment Research downgraded TE Connectivity from a “hold” rating to a “sell” rating and set a $97.00 price target for the company. in a research note on Monday, October 21st. Royal Bank of Canada initiated coverage on TE Connectivity in a report on Tuesday, December 17th. They set an “outperform” rating and a $105.00 price target for the company. Finally, ValuEngine raised TE Connectivity from a “sell” rating to a “hold” rating in a research note on Friday, December 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $101.79.
In related news, Director Terrence R. Curtin sold 34,853 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $94.11, for a total transaction of $3,280,015.83. Following the completion of the sale, the director now owns 164,332 shares in the company, valued at approximately $15,465,284.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John S. Jenkins sold 9,835 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $94.11, for a total value of $925,571.85. Following the completion of the sale, the executive vice president now directly owns 45,430 shares in the company, valued at approximately $4,275,417.30. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.
About TE Connectivity
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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