Davy Asset Management Ltd acquired a new stake in TE Connectivity Ltd (NYSE:TEL) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 19,508 shares of the electronics maker’s stock, valued at approximately $1,757,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Bamco Inc. NY acquired a new position in shares of TE Connectivity in the 1st quarter valued at approximately $108,000. Flagship Harbor Advisors LLC acquired a new position in shares of TE Connectivity in the 2nd quarter valued at approximately $111,000. Fort L.P. bought a new stake in TE Connectivity in the 2nd quarter valued at approximately $115,000. Private Capital Group LLC bought a new stake in TE Connectivity in the 2nd quarter valued at approximately $121,000. Finally, Moneta Group Investment Advisors LLC bought a new stake in TE Connectivity in the 2nd quarter valued at approximately $180,000. Institutional investors and hedge funds own 87.85% of the company’s stock.
Several research firms have commented on TEL. Zacks Investment Research cut TE Connectivity from a “buy” rating to a “hold” rating in a research note on Saturday, July 7th. Morgan Stanley cut their target price on TE Connectivity from $117.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, July 26th. Finally, Wells Fargo & Co cut their target price on TE Connectivity from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $112.91.
NYSE TEL opened at $91.77 on Monday. The company has a market capitalization of $31.62 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 1.48 and a beta of 1.01. The company has a current ratio of 1.47, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. TE Connectivity Ltd has a 52 week low of $80.93 and a 52 week high of $108.23.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 25th. The electronics maker reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.06. TE Connectivity had a return on equity of 20.33% and a net margin of 9.26%. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the business posted $1.24 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. equities analysts expect that TE Connectivity Ltd will post 5.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Friday, August 24th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Thursday, August 23rd. TE Connectivity’s dividend payout ratio is currently 36.44%.
TE Connectivity 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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