Scotia Capital Inc. raised its position in TE Connectivity Ltd (NYSE:TEL) by 3.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 26,980 shares of the electronics maker’s stock after purchasing an additional 843 shares during the period. Scotia Capital Inc.’s holdings in TE Connectivity were worth $2,584,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Weaver Consulting Group acquired a new position in shares of TE Connectivity in the 1st quarter worth approximately $28,000. Thor Advisors LLC acquired a new position in shares of TE Connectivity in the 1st quarter worth approximately $26,000. Synovus Financial Corp lifted its position in shares of TE Connectivity by 97.2% in the 1st quarter. Synovus Financial Corp now owns 355 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 175 shares during the period. CX Institutional lifted its position in shares of TE Connectivity by 220.2% in the 2nd quarter. CX Institutional now owns 365 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 251 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of TE Connectivity in the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 90.56% of the company’s stock.
A number of brokerages have recently issued reports on TEL. Goldman Sachs Group upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $92.00 to $105.00 in a research report on Thursday, June 20th. Cross Research downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Wells Fargo & Co downgraded shares of TE Connectivity from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 25th. Longbow Research downgraded shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 target price on the stock. in a research report on Monday, June 17th. Finally, Morgan Stanley dropped their target price on shares of TE Connectivity from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $92.21.
Shares of TE Connectivity stock traded down $0.04 during trading on Friday, reaching $96.96. 37,086 shares of the company traded hands, compared to its average volume of 1,249,087. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.47 and a quick ratio of 0.94. TE Connectivity Ltd has a 1-year low of $69.84 and a 1-year high of $97.99. The company has a 50 day moving average price of $91.11 and a 200-day moving average price of $89.30. The firm has a market capitalization of $32.17 billion, a PE ratio of 17.29, a P/E/G ratio of 1.62 and a beta of 1.21.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.08. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.43 billion. TE Connectivity had a net margin of 22.94% and a return on equity of 18.33%. TE Connectivity’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.43 EPS. Equities research analysts expect that TE Connectivity Ltd will post 5.52 earnings per share for the current year.
The firm also recently declared 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. The ex-dividend date was Thursday, August 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.90%. TE Connectivity’s dividend payout ratio (DPR) is presently 32.80%.
In other TE Connectivity news, EVP John S. Jenkins sold 38,050 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $91.18, for a total transaction of $3,469,399.00. Following the completion of the sale, the executive vice president now owns 65,515 shares in the company, valued at approximately $5,973,657.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven T. Merkt sold 65,650 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $93.55, for a total transaction of $6,141,557.50. Following the sale, the insider now owns 89,854 shares of the company’s stock, valued at approximately $8,405,841.70. The disclosure for this sale can be found here. Insiders have sold a total of 255,500 shares of company stock valued at $23,737,285 in the last 90 days. 0.80% of the stock is currently owned by company 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 AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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