GAM Holding AG decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 11.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,675 shares of the electronics maker's stock after selling 7,044 shares during the quarter. GAM Holding AG's holdings in TE Connectivity were worth $7,585,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its position in TE Connectivity by 14.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker's stock worth $949,000 after purchasing an additional 841 shares during the period. J. Safra Sarasin Holding AG lifted its position in TE Connectivity by 128.4% during the fourth quarter. J. Safra Sarasin Holding AG now owns 15,524 shares of the electronics maker's stock worth $2,219,000 after purchasing an additional 8,728 shares during the period. New York State Common Retirement Fund lifted its position in TE Connectivity by 48.8% during the fourth quarter. New York State Common Retirement Fund now owns 1,122 shares of the electronics maker's stock worth $160,000 after purchasing an additional 368 shares during the period. RWC Asset Management LLP bought a new position in shares of TE Connectivity in the fourth quarter worth about $18,702,000. Finally, Waverton Investment Management Ltd lifted its holdings in shares of TE Connectivity by 4.7% in the fourth quarter. Waverton Investment Management Ltd now owns 1,477,981 shares of the electronics maker's stock worth $211,373,000 after acquiring an additional 66,933 shares during the last quarter. Institutional investors own 91.43% of the company's stock.
Insider Buying and Selling
In other news, insider Aaron Kyle Stucki sold 5,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. Following the completion of the transaction, the insider now directly owns 23,646 shares in the company, valued at $3,783,360. This trade represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John S. Jenkins sold 20,400 shares of TE Connectivity stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total value of $3,322,140.00. Following the completion of the sale, the executive vice president now owns 24,625 shares of the company's stock, valued at $4,010,181.25. The trade was a 45.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,675 shares of company stock valued at $27,369,059 over the last quarter. 0.90% of the stock is owned by company insiders.
TE Connectivity Stock Performance
NYSE TEL traded down $0.59 during trading on Friday, hitting $163.19. 2,765,138 shares of the company's stock traded hands, compared to its average volume of 1,705,663. The stock has a market capitalization of $48.40 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.13 and a beta of 1.23. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $167.94. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.51. The business has a 50 day moving average of $153.80 and a 200-day moving average of $148.49.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a net margin of 8.67% and a return on equity of 19.40%. TE Connectivity's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.86 earnings per share. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Friday, August 22nd. TE Connectivity's payout ratio is 62.42%.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Citigroup dropped their target price on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. UBS Group raised their price objective on shares of TE Connectivity from $163.00 to $185.00 and gave the company a "buy" rating in a report on Friday, May 30th. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research report on Friday, April 25th. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group reduced their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $162.50.
View Our Latest Stock Report on TE Connectivity
About TE Connectivity
(
Free Report)
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.
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