TE Connectivity Ltd. (TEL) Shares Sold by Stevens Capital Management LP
Stevens Capital Management LP lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 20.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,186 shares of the electronics maker’s stock after selling 37,887 shares during the quarter. Stevens Capital Management LP’s holdings in TE Connectivity were worth $11,423,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of TEL. Guardian Life Insurance Co. of America boosted its position in TE Connectivity by 0.7% during 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 acquiring an additional 9 shares during the last quarter. Duncker Streett & Co. Inc. boosted its position in TE Connectivity by 17.8% during the second quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after acquiring an additional 200 shares during the last quarter. First Command Bank boosted its position in TE Connectivity by 19.6% during the second quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock valued at $106,000 after acquiring an additional 221 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in 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 valued at $109,000 after acquiring an additional 384 shares during the last quarter. Finally, Orrstown Financial Services Inc. boosted its position in TE Connectivity by 7.9% during the second quarter. Orrstown Financial Services Inc. now owns 1,835 shares of the electronics maker’s stock valued at $144,000 after acquiring an additional 135 shares during the last quarter. 90.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of TE Connectivity Ltd. (NYSE:TEL) traded up 1.07% during trading on Friday, hitting $82.15. 1,633,504 shares of the stock traded hands. The firm has a market cap of $29.03 billion, a price-to-earnings ratio of 17.44 and a beta of 1.05. The company has a 50 day moving average price of $79.62 and a 200 day moving average price of $77.57. TE Connectivity Ltd. has a 12 month low of $60.59 and a 12 month high of $85.20.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.07. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 EPS. Analysts anticipate that TE Connectivity Ltd. will post $4.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Wednesday, August 23rd. TE Connectivity’s payout ratio is 33.97%.
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In other news, insider Thomas J. Lynch sold 186,033 shares of TE Connectivity stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $79.75, for a total transaction of $14,836,131.75. Following the sale, the insider now owns 504,884 shares of the company’s stock, valued at approximately $40,264,499. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas J. Lynch sold 186,034 shares of TE Connectivity stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $78.65, for a total transaction of $14,631,574.10. Following the sale, the insider now directly owns 504,885 shares in the company, valued at approximately $39,709,205.25. The disclosure for this sale can be found here. Insiders have sold a total of 749,165 shares of company stock worth $59,522,187 in the last ninety days. Insiders own 1.30% of the company’s stock.
TEL has been the topic of a number of research analyst reports. BidaskClub cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Thursday, June 22nd. Finally, Cowen and Company reiterated a “buy” rating and set a $95.00 price objective on shares of TE Connectivity in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. TE Connectivity presently has a consensus rating of “Hold” and a consensus target price of $83.43.
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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