Studio Investment Management LLC increased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 28.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,376 shares of the electronics maker's stock after acquiring 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 SEC filing.
A number of other large investors have also made changes to their positions in TEL. Vanguard Group Inc. raised its holdings in shares of TE Connectivity by 17.0% during the first quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker's stock valued at $5,353,401,000 after acquiring an additional 5,502,415 shares during the period. Valeo Financial Advisors LLC raised its holdings in shares of TE Connectivity by 39,846.0% during the second quarter. Valeo Financial Advisors LLC now owns 1,775,598 shares of the electronics maker's stock valued at $299,490,000 after acquiring an additional 1,771,153 shares during the period. Nuveen LLC acquired a new stake in shares of TE Connectivity during the first quarter valued at approximately $174,700,000. Wellington Management Group LLP increased its stake in TE Connectivity by 17.2% in the 1st quarter. Wellington Management Group LLP now owns 7,459,195 shares of the electronics maker's stock valued at $1,054,133,000 after buying an additional 1,097,035 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in TE Connectivity by 17.1% in the 1st quarter. Ameriprise Financial Inc. now owns 6,563,527 shares of the electronics maker's stock valued at $927,571,000 after buying an additional 960,276 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.
TE Connectivity Stock Performance
TEL stock opened at $228.39 on Wednesday. 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 market capitalization of $67.48 billion, a price-to-earnings ratio of 47.29, a P/E/G ratio of 2.44 and a beta of 1.26. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $234.50. The firm has a 50 day moving average of $213.47 and a two-hundred day moving average of $181.42.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, topping the consensus estimate of $2.08 by $0.19. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 earnings per share. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.
TE Connectivity Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 21st will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 21st. TE Connectivity's dividend payout ratio is currently 58.80%.
Analyst Ratings Changes
TEL has been the topic of several research reports. Barclays initiated coverage on shares of TE Connectivity in a research note on Tuesday, October 7th. They issued an "overweight" rating and a $249.00 price objective on the stock. Bank of America upped 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. UBS Group upped their price objective on shares of TE Connectivity from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Monday, October 6th. The Goldman Sachs Group upped their price objective on shares of TE Connectivity from $228.00 to $263.00 and gave the company a "buy" rating in a research note on Monday, September 29th. Finally, KGI Securities upgraded shares of TE Connectivity to a "hold" rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, TE Connectivity presently has a consensus rating of "Moderate Buy" and an average price target of $222.00.
Read Our Latest Analysis on TE Connectivity
Insider Buying and Selling
In related news, EVP John S. Jenkins sold 45,850 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the completion of the sale, the executive vice president directly owned 24,625 shares of the company's stock, valued at approximately $5,154,751.25. This represents a 65.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Malavika Sagar sold 1,945 shares of the company's stock in a transaction 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 sale, the senior vice president directly owned 4,716 shares of the company's stock, valued at approximately $977,155.20. This represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,645 shares of company stock valued at $14,842,096. Company insiders own 0.90% of the company's stock.
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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