BlackRock Inc. trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,847,432 shares of the electronics maker’s stock after selling 356,503 shares during the quarter. BlackRock Inc. owned approximately 4.77% of TE Connectivity worth $1,325,553,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America raised its holdings in shares of 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 worth $102,000 after acquiring an additional 9 shares during the last quarter. Pictet North America Advisors SA raised its holdings in shares of TE Connectivity by 0.6% in the second quarter. Pictet North America Advisors SA now owns 3,725 shares of the electronics maker’s stock worth $293,000 after acquiring an additional 24 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in shares of TE Connectivity by 0.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 6,636 shares of the electronics maker’s stock worth $495,000 after acquiring an additional 34 shares during the last quarter. Cleararc Capital Inc. raised its holdings in shares of TE Connectivity by 0.4% in the first quarter. Cleararc Capital Inc. now owns 8,692 shares of the electronics maker’s stock worth $648,000 after acquiring an additional 37 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of TE Connectivity by 2.2% in the first quarter. Parallel Advisors LLC now owns 1,996 shares of the electronics maker’s stock worth $150,000 after acquiring an additional 43 shares during the last quarter. 90.10% of the stock is owned by institutional investors.

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TE Connectivity Ltd. (NYSE:TEL) opened at 82.15 on Friday. 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 1-year low of $60.59 and a 1-year high of $85.20. The firm has a market capitalization of $29.03 billion, a price-to-earnings ratio of 17.44 and a beta of 1.05.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 26th. The electronics maker reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.07. The business 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%. TE Connectivity’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 earnings per share. Equities analysts anticipate that TE Connectivity Ltd. will post $4.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were given a $0.40 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $1.60 annualized dividend and a dividend yield of 1.95%. TE Connectivity’s dividend payout ratio (DPR) is presently 33.97%.

In other news, insider Thomas J. Lynch sold 186,034 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $78.65, for a total value 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 $39,709,205.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas J. Lynch sold 186,033 shares of the firm’s stock in a transaction on 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 completion of 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. In the last ninety days, insiders sold 749,165 shares of company stock valued at $59,522,187. 1.30% of the stock is currently owned by insiders.

A number of equities analysts have recently weighed in on TEL shares. Zacks Investment Research cut TE Connectivity from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Cowen and Company reissued an “outperform” rating and issued a $95.00 price target (up from $90.00) on shares of TE Connectivity in a report on Monday, June 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $86.00 price target on shares of TE Connectivity in a report on Tuesday, June 6th. Finally, BidaskClub cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target 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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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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