Chevy Chase Trust Holdings Inc. lifted its position in TE Connectivity Ltd. (NYSE:TEL) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 309,900 shares of the electronics maker’s stock after buying an additional 1,528 shares during the quarter. Chevy Chase Trust Holdings Inc. owned about 0.09% of TE Connectivity worth $25,740,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of TEL. First Eagle Investment Management LLC lifted its stake in shares of TE Connectivity by 112,210.6% in the second quarter. First Eagle Investment Management LLC now owns 1,684,659 shares of the electronics maker’s stock worth $132,549,000 after buying an additional 1,683,159 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of TE Connectivity by 499.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,386,610 shares of the electronics maker’s stock worth $109,098,000 after buying an additional 1,155,316 shares during the last quarter. Boston Partners lifted its stake in shares of TE Connectivity by 8.1% in the third quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock worth $1,032,298,000 after buying an additional 934,796 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of TE Connectivity in the second quarter worth $523,000. Finally, Vanguard Group Inc. lifted its stake in shares of TE Connectivity by 2.3% in the second quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock worth $1,834,196,000 after buying an additional 521,884 shares during the last quarter. Institutional investors and hedge funds own 90.22% of the company’s stock.
Several equities analysts recently commented on TEL shares. Stifel Nicolaus reiterated a “buy” rating and set a $87.00 target price on shares of TE Connectivity in a research note on Tuesday, October 17th. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Monday, September 4th. Royal Bank Of Canada reiterated a “buy” rating and set a $95.00 target price (up from $90.00) on shares of TE Connectivity in a research note on Monday, October 30th. Citigroup upped their target price on shares of TE Connectivity from $92.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Finally, Cross Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $151.07.
Shares of TE Connectivity Ltd. (NYSE TEL) traded up $0.99 during trading on Friday, reaching $94.82. 2,090,000 shares of the company’s stock traded hands, compared to its average volume of 1,617,271. The company has a market cap of $33,324.64, a price-to-earnings ratio of 19.62, a PEG ratio of 1.65 and a beta of 1.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07. TE Connectivity Ltd. has a 12-month low of $66.20 and a 12-month high of $96.68.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.09. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 EPS. sell-side analysts forecast that TE Connectivity Ltd. will post 5.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.69%. The ex-dividend date was Wednesday, November 22nd. TE Connectivity’s dividend payout ratio (DPR) is presently 33.97%.
TE Connectivity announced that its Board of Directors has initiated a stock buyback plan on Friday, December 8th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other TE Connectivity news, SVP Eric Resch sold 48,950 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $93.75, for a total value of $4,589,062.50. Following the sale, the senior vice president now owns 78,129 shares of the company’s stock, valued at approximately $7,324,593.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas J. Lynch sold 130,616 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $83.37, for a total transaction of $10,889,455.92. Following the completion of the sale, the insider now directly owns 429,499 shares in the company, valued at approximately $35,807,331.63. The disclosure for this sale can be found here. Insiders sold a total of 759,805 shares of company stock worth $69,542,539 in the last three months. Insiders own 1.30% of the company’s stock.
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TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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