TE Connectivity Ltd. (TEL) Shares Sold by Pacad Investment Ltd.
Pacad Investment Ltd. decreased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 70.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,600 shares of the electronics maker’s stock after selling 3,900 shares during the period. Pacad Investment Ltd.’s holdings in TE Connectivity were worth $126,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in TE Connectivity by 20.5% during the 2nd quarter. Principal Financial Group Inc. now owns 595,432 shares of the electronics maker’s stock valued at $46,848,000 after buying an additional 101,458 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in TE Connectivity during the 2nd quarter valued at about $2,219,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in TE Connectivity by 1.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 229,116 shares of the electronics maker’s stock valued at $18,027,000 after buying an additional 3,739 shares during the period. Sage Capital Advisors llc acquired a new position in TE Connectivity during the 2nd quarter valued at about $1,009,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in TE Connectivity by 19.8% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 86,815 shares of the electronics maker’s stock valued at $6,831,000 after buying an additional 14,374 shares during the period. 90.10% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Mario Calastri sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $80.23, for a total value of $481,380.00. Following the completion of the sale, the senior vice president now directly owns 23,078 shares of the company’s stock, valued at approximately $1,851,547.94. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Joseph B. Donahue sold 52,575 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $80.03, for a total value of $4,207,577.25. Following the completion of the sale, the chief operating officer now directly owns 93,484 shares of the company’s stock, valued at $7,481,524.52. The disclosure for this sale can be found here. Insiders have sold a total of 749,165 shares of company stock valued at $59,522,187 over the last three months. Company insiders own 1.30% of the company’s stock.
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TE Connectivity Ltd. (NYSE TEL) opened at 82.15 on Friday. The company has a market cap of $29.03 billion, a price-to-earnings ratio of 17.44 and a beta of 1.05. The stock’s 50 day moving average is $79.62 and its 200 day moving average is $77.57. TE Connectivity Ltd. has a 52-week low of $60.59 and a 52-week high of $85.20.
TE Connectivity (NYSE:TEL) last announced 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. 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 company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS. Equities research analysts forecast that TE Connectivity Ltd. will post $4.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.60 annualized dividend and a yield of 1.95%. TE Connectivity’s dividend payout ratio is currently 33.97%.
Several research firms have recently weighed in on TEL. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Monday, September 11th. Cowen and Company restated an “outperform” rating and set a $95.00 price objective (up previously from $90.00) on shares of TE Connectivity in a research report on Monday, June 5th. Royal Bank Of Canada restated an “outperform” rating and set a $86.00 price objective on shares of TE Connectivity in a research report on Tuesday, June 6th. Finally, BidaskClub lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. TE Connectivity 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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