Global X Management Co. LLC increased its stake in TE Connectivity Ltd. (NYSE:TEL) by 25.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,204 shares of the electronics maker’s stock after buying an additional 858 shares during the period. Global X Management Co. LLC’s holdings in TE Connectivity were worth $331,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America increased its stake in TE Connectivity by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock valued at $102,000 after buying an additional 9 shares during the period. Duncker Streett & Co. Inc. increased its stake in TE Connectivity by 17.8% in the second quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after buying an additional 200 shares during the period. First Command Bank increased its stake in TE Connectivity by 19.6% in the second quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock valued at $106,000 after buying an additional 221 shares during the period. Webster Bank N. A. increased its stake in TE Connectivity by 675.0% in the first quarter. Webster Bank N. A. now owns 1,550 shares of the electronics maker’s stock valued at $116,000 after buying an additional 1,350 shares during the period. Finally, Orrstown Financial Services Inc. increased its stake in TE Connectivity by 7.9% in the second quarter. Orrstown Financial Services Inc. now owns 1,835 shares of the electronics maker’s stock valued at $144,000 after buying an additional 135 shares during the period. 90.37% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity Ltd. (NYSE TEL) opened at 77.71 on Monday. The company has a market capitalization of $27.46 billion, a P/E ratio of 16.50 and a beta of 1.06. TE Connectivity Ltd. has a one year low of $60.38 and a one year high of $85.20. The stock’s 50 day moving average price is $80.26 and its 200-day moving average price is $76.97.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.07. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. Equities analysts forecast that TE Connectivity Ltd. will post $4.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be given a $0.40 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.06%. TE Connectivity’s payout ratio is 33.97%.
TEL has been the topic of several analyst reports. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Wednesday, June 7th. BidaskClub downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Cowen and Company reissued a “buy” rating and issued a $95.00 target price on shares of TE Connectivity in a report on Thursday, August 10th. Finally, Deutsche Bank AG boosted their target price on TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $83.43.
In other TE Connectivity news, insider Thomas J. Lynch sold 186,034 shares of TE Connectivity stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $78.65, for a total transaction of $14,631,574.10. Following the completion of the sale, the insider now owns 504,885 shares of the company’s stock, valued at approximately $39,709,205.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas J. Lynch sold 186,033 shares of TE Connectivity stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $79.75, for a total value of $14,836,131.75. Following the sale, the insider now directly owns 504,884 shares of the company’s stock, valued at approximately $40,264,499. The disclosure for this sale can be found here. Insiders sold a total of 726,407 shares of company stock valued at $57,751,239 in the last three months. 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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