Oppenheimer Asset Management Inc. decreased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 56.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,140 shares of the electronics maker’s stock after selling 114,518 shares during the period. Oppenheimer Asset Management Inc.’s holdings in TE Connectivity were worth $8,705,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in TEL. Atria Investments LLC boosted its stake in shares of TE Connectivity by 34.3% during the fourth quarter. Atria Investments LLC now owns 3,436 shares of the electronics maker’s stock worth $327,000 after buying an additional 878 shares during the period. Bank of Montreal Can boosted its stake in shares of TE Connectivity by 1.4% during the fourth quarter. Bank of Montreal Can now owns 409,090 shares of the electronics maker’s stock worth $38,879,000 after buying an additional 5,785 shares during the period. Creative Planning boosted its stake in shares of TE Connectivity by 4.3% during the fourth quarter. Creative Planning now owns 20,846 shares of the electronics maker’s stock worth $1,981,000 after buying an additional 861 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of TE Connectivity by 4.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,189,706 shares of the electronics maker’s stock worth $113,070,000 after buying an additional 55,253 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of TE Connectivity by 1,035.2% during the fourth quarter. Acadian Asset Management LLC now owns 13,339 shares of the electronics maker’s stock worth $1,269,000 after buying an additional 12,164 shares during the period. Institutional investors and hedge funds own 90.07% of the company’s stock.
In other TE Connectivity news, insider Thomas J. Lynch sold 76,183 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $101.48, for a total value of $7,731,050.84. Following the completion of the transaction, the insider now directly owns 254,715 shares of the company’s stock, valued at $25,848,478.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Robert J. Ott sold 10,700 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $105.14, for a total transaction of $1,124,998.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,567 shares of company stock valued at $9,955,860. 0.70% of the stock is currently owned by corporate insiders.
Shares of NYSE:TEL opened at $95.93 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.43 and a quick ratio of 0.94. The stock has a market capitalization of $33.32 billion, a P/E ratio of 19.86, a PEG ratio of 1.56 and a beta of 1.08. TE Connectivity Ltd. has a 52 week low of $74.71 and a 52 week high of $108.23.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 25th. The electronics maker reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.06. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.61 billion. TE Connectivity had a net margin of 9.39% and a return on equity of 19.89%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 earnings per share. sell-side analysts anticipate that TE Connectivity Ltd. will post 5.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Friday, May 25th will be issued a $0.44 dividend. The ex-dividend date is Thursday, May 24th. This is a boost from TE Connectivity’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.83%. TE Connectivity’s dividend payout ratio (DPR) is 33.13%.
TEL has been the subject of several recent research reports. Robert W. Baird reiterated a “buy” rating and set a $123.00 target price on shares of TE Connectivity in a research note on Tuesday, April 17th. Citigroup increased their target price on shares of TE Connectivity from $106.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Stifel Nicolaus restated a “buy” rating and issued a $115.00 price objective on shares of TE Connectivity in a research report on Wednesday, January 24th. Royal Bank of Canada restated a “buy” rating and issued a $116.00 price objective on shares of TE Connectivity in a research report on Wednesday, January 24th. Finally, Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $139.25.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia?Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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