Tyers Asset Management LLC increased its stake in shares of TE Connectivity Ltd (NYSE:TEL) by 8.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,064 shares of the electronics maker’s stock after buying an additional 616 shares during the period. Tyers Asset Management LLC’s holdings in TE Connectivity were worth $601,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dodge & Cox bought a new position in shares of TE Connectivity during the fourth quarter valued at $1,913,073,000. Norges Bank acquired a new stake in TE Connectivity during the fourth quarter worth approximately $248,250,000. Price T Rowe Associates Inc. MD boosted its stake in TE Connectivity by 24.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,936,361 shares of the electronics maker’s stock worth $768,463,000 after buying an additional 2,348,403 shares during the period. LSV Asset Management boosted its stake in TE Connectivity by 2,139.2% in the third quarter. LSV Asset Management now owns 2,203,350 shares of the electronics maker’s stock worth $141,851,000 after buying an additional 2,104,950 shares during the period. Finally, Boston Partners raised its stake in shares of TE Connectivity by 21.5% in the third quarter. Boston Partners now owns 10,886,199 shares of the electronics maker’s stock worth $700,854,000 after buying an additional 1,922,737 shares in the last quarter. Institutional investors own 91.08% of the company’s stock.
Shares of TE Connectivity Ltd (NYSE:TEL) traded up 1.07% during trading on Friday, hitting $74.68. The stock had a trading volume of 547,891 shares. The firm has a market cap of $26.51 billion, a P/E ratio of 12.83 and a beta of 1.16. TE Connectivity Ltd has a one year low of $54.54 and a one year high of $79.69. The firm’s 50-day moving average is $74.69 and its 200-day moving average is $72.07.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 26th. The electronics maker reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.11. TE Connectivity had a net margin of 16.56% and a return on equity of 19.26%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts forecast that TE Connectivity Ltd will post $4.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Friday, May 26th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, May 24th. This is a boost from TE Connectivity’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. TE Connectivity’s dividend payout ratio (DPR) is presently 25.92%.
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A number of analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $86.00 price target (up from $82.00) on shares of TE Connectivity in a research note on Saturday, April 29th. Morgan Stanley upped their price target on TE Connectivity from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, April 28th. Deutsche Bank AG upped their price target on TE Connectivity from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Friday, May 12th. Finally, Stifel Nicolaus increased their price objective on TE Connectivity from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, January 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $82.29.
In other news, CEO Thomas J. Lynch sold 131,875 shares of TE Connectivity stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $75.93, for a total transaction of $10,013,268.75. Following the transaction, the chief executive officer now directly owns 318,787 shares of the company’s stock, valued at $24,205,496.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John S. Jenkins sold 14,000 shares of TE Connectivity stock in a transaction on Friday, May 12th. The stock was sold at an average price of $75.70, for a total transaction of $1,059,800.00. Following the transaction, the executive vice president now directly owns 8,823 shares in the company, valued at $667,901.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 437,209 shares of company stock worth $33,006,586. Insiders own 1.49% of the company’s stock.
About TE Connectivity
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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