Bank of New York Mellon Corp cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,390,778 shares of the electronics maker’s stock after selling 59,186 shares during the period. Bank of New York Mellon Corp owned approximately 0.68% of TE Connectivity worth $198,577,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Duncker Streett & Co. Inc. boosted its position in shares of TE Connectivity by 17.8% during the second quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock worth $104,000 after buying an additional 200 shares during the period. AllSquare Wealth Management LLC acquired a new position in shares of TE Connectivity during the third quarter worth approximately $113,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of TE Connectivity by 38.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock worth $109,000 after buying an additional 384 shares during the period. Acrospire Investment Management LLC acquired a new position in shares of TE Connectivity during the second quarter worth approximately $126,000. Finally, Harfst & Associates Inc. boosted its position in shares of TE Connectivity by 46.2% during the second quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock worth $135,000 after buying an additional 544 shares during the period. Institutional investors and hedge funds own 89.58% of the company’s stock.
TE Connectivity Ltd. (NYSE:TEL) opened at $95.04 on Monday. The stock has a market capitalization of $33,419.60, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.84 and a beta of 1.06. TE Connectivity Ltd. has a twelve month low of $66.14 and a twelve month high of $95.37. 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 (NYSE:TEL) last posted 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. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior year, the company earned $1.22 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. equities research analysts forecast that TE Connectivity Ltd. will post 5.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.68%. The ex-dividend date is Wednesday, November 22nd. TE Connectivity’s dividend payout ratio (DPR) is currently 33.97%.
In other TE Connectivity news, insider Thomas J. Lynch sold 186,033 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $79.29, for a total transaction of $14,750,556.57. Following the sale, the insider now directly owns 298,851 shares of the company’s stock, valued at approximately $23,695,895.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 sale, the insider now directly owns 429,499 shares in the company, valued at $35,807,331.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 679,009 shares of company stock worth $59,194,715. Company insiders own 1.49% of the company’s stock.
TEL has been the subject of a number of research analyst reports. Cowen and Company restated a “buy” rating and issued a $95.00 target price on shares of TE Connectivity in a research report on Thursday, August 10th. BidaskClub downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Monday, September 4th. Stifel Nicolaus restated a “buy” rating and issued a $87.00 target price on shares of TE Connectivity in a research report on Tuesday, October 17th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of TE Connectivity in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. TE Connectivity has an average rating of “Buy” and a consensus price target of $150.00.
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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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