BB&T Investment Services Inc. grew its stake in TE Connectivity Ltd. (NYSE:TEL) by 87.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,038 shares of the electronics maker’s stock after acquiring an additional 950 shares during the period. BB&T Investment Services Inc.’s holdings in TE Connectivity were worth $168,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sompo Japan Nipponkoa Asset Management CO. LTD. bought a new position in TE Connectivity during the third quarter worth about $3,317,000. Stifel Financial Corp grew its holdings in TE Connectivity by 20.5% during the third quarter. Stifel Financial Corp now owns 399,324 shares of the electronics maker’s stock worth $33,151,000 after purchasing an additional 67,891 shares during the period. Tredje AP fonden grew its holdings in TE Connectivity by 37.5% during the third quarter. Tredje AP fonden now owns 120,007 shares of the electronics maker’s stock worth $9,968,000 after purchasing an additional 32,740 shares during the period. Commerzbank Aktiengesellschaft FI bought a new position in TE Connectivity during the third quarter worth about $264,000. Finally, MUFG Americas Holdings Corp grew its holdings in TE Connectivity by 8.4% during the third quarter. MUFG Americas Holdings Corp now owns 16,249 shares of the electronics maker’s stock worth $1,350,000 after purchasing an additional 1,257 shares during the period. Institutional investors own 90.22% of the company’s stock.
Shares of TE Connectivity Ltd. (TEL) traded down $0.31 during mid-day trading on Wednesday, reaching $92.56. 1,642,200 shares of the company’s stock traded hands, compared to its average volume of 1,436,673. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07. The firm has a market capitalization of $32,656.54, a P/E ratio of 19.23, a PEG ratio of 1.62 and a beta of 1.08. TE Connectivity Ltd. has a 1 year low of $66.20 and a 1 year high of $96.68.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $1.60 annualized dividend and a yield of 1.73%. TE Connectivity’s dividend payout ratio (DPR) is presently 33.97%.
In other news, COO Joseph B. Donahue sold 1,238 shares of TE Connectivity stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $93.23, for a total value of $115,418.74. Following the completion of the sale, the chief operating officer now directly owns 52,134 shares in the company, valued at $4,860,452.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Thomas J. Lynch sold 130,616 shares of TE Connectivity stock in a transaction that occurred 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 owns 429,499 shares of the company’s stock, valued at $35,807,331.63. The disclosure for this sale can be found here. Insiders have sold 759,805 shares of company stock valued at $69,542,539 over the last 90 days. Company insiders own 1.49% of the company’s stock.
A number of equities analysts recently commented on TEL shares. Stifel Nicolaus reiterated a “buy” rating and set a $98.00 price target on shares of TE Connectivity in a report on Friday, November 3rd. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Monday, September 11th. Royal Bank Of Canada reduced their price target on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. Robert W. Baird started coverage on TE Connectivity in a report on Friday, November 3rd. They set an “outperform” rating and a $105.00 price target for the company. Finally, Wells Fargo & Company started coverage on TE Connectivity in a report on Friday, November 10th. They set an “outperform” rating and a $105.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $150.00.
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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