Swiss National Bank Raises Position in TE Connectivity Ltd. (TEL)
Swiss National Bank increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,297,509 shares of the electronics maker’s stock after buying an additional 38,400 shares during the period. Swiss National Bank owned 0.37% of TE Connectivity worth $102,088,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of TE Connectivity by 3.6% in the first quarter. Vanguard Group Inc. now owns 22,790,216 shares of the electronics maker’s stock worth $1,699,010,000 after buying an additional 796,516 shares in the last quarter. BlackRock Inc. raised its stake in shares of TE Connectivity by 1,777.1% in the first quarter. BlackRock Inc. now owns 17,203,935 shares of the electronics maker’s stock worth $1,282,551,000 after buying an additional 16,287,414 shares in the last quarter. State Street Corp raised its stake in shares of TE Connectivity by 3.6% in the first quarter. State Street Corp now owns 13,850,157 shares of the electronics maker’s stock worth $1,032,534,000 after buying an additional 486,340 shares in the last quarter. Boston Partners raised its stake in shares of TE Connectivity by 1.6% in the first quarter. Boston Partners now owns 11,779,206 shares of the electronics maker’s stock worth $878,140,000 after buying an additional 187,835 shares in the last quarter. Finally, Fiduciary Management Inc. WI raised its stake in shares of TE Connectivity by 3.6% in the first quarter. Fiduciary Management Inc. WI now owns 9,616,782 shares of the electronics maker’s stock worth $716,931,000 after buying an additional 331,080 shares in the last quarter. 88.09% of the stock is owned by institutional investors and hedge funds.
TE Connectivity Ltd. (TEL) opened at 79.60 on Friday. The stock’s 50 day moving average is $80.10 and its 200-day moving average is $77.20. The company has a market capitalization of $28.13 billion, a PE ratio of 16.90 and a beta of 1.06. TE Connectivity Ltd. has a 12 month low of $60.38 and a 12 month high of $85.20.
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 Thomson Reuters’ consensus estimate of $1.17 by $0.07. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the company posted $1.08 earnings per share. TE Connectivity’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts expect that TE Connectivity Ltd. will post $4.74 EPS for the current year.
The company 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, August 23rd. TE Connectivity’s dividend payout ratio (DPR) is presently 33.97%.
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TEL has been the topic of a number of recent research reports. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Friday, May 12th. Cowen and Company reaffirmed an “outperform” rating and issued a $95.00 price objective (up from $90.00) on shares of TE Connectivity in a research note on Monday, June 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $86.00 price objective on shares of TE Connectivity in a research note on Tuesday, June 6th. Finally, BidaskClub cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. TE Connectivity has an average rating of “Hold” and an average price target of $83.43.
In related news, SVP Mario Calastri sold 6,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $80.23, for a total transaction of $481,380.00. Following the transaction, the senior vice president now directly owns 23,078 shares of the company’s stock, valued at $1,851,547.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas J. Lynch sold 186,034 shares of the stock in a transaction on 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 transaction, the insider now directly owns 504,885 shares in the company, valued at $39,709,205.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 563,132 shares of company stock valued at $44,771,630. 1.30% of the stock is currently owned by corporate insiders.
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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