TE Connectivity Ltd. (TEL) Holdings Trimmed by WINTON GROUP Ltd
WINTON GROUP Ltd lowered its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 90.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,920 shares of the electronics maker’s stock after selling 117,505 shares during the period. WINTON GROUP Ltd’s holdings in TE Connectivity were worth $1,073,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in TEL. Northwestern Mutual Wealth Management Co. raised its stake in TE Connectivity by 38.6% during the 2nd 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 in the last quarter. AllSquare Wealth Management LLC bought a new stake in shares of TE Connectivity in the 3rd quarter worth $113,000. Acrospire Investment Management LLC bought a new stake in shares of TE Connectivity in the 2nd quarter worth $126,000. Harfst & Associates Inc. raised its stake in shares of TE Connectivity by 46.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock worth $135,000 after buying an additional 544 shares in the last quarter. Finally, Robecosam AG bought a new stake in shares of TE Connectivity in the 3rd quarter worth $155,000. 90.22% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Thomas J. Lynch sold 130,617 shares of TE Connectivity stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $91.29, for a total value of $11,924,025.93. Following the transaction, the insider now directly owns 429,500 shares in the company, valued at approximately $39,209,055. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas J. Lynch sold 130,616 shares of TE Connectivity stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $83.37, for a total value of $10,889,455.92. Following the completion of the transaction, the insider now owns 429,499 shares in the company, valued at $35,807,331.63. The disclosure for this sale can be found here. Insiders sold a total of 759,805 shares of company stock worth $69,542,539 over the last 90 days. Insiders own 1.49% of the company’s stock.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.09. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 EPS. sell-side analysts expect that TE Connectivity Ltd. will post 5.27 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, November 22nd. TE Connectivity’s payout ratio is 33.97%.
A number of analysts have recently commented on TEL shares. Cowen reissued a “buy” rating and issued a $95.00 price objective on shares of TE Connectivity in a research note on Thursday, August 10th. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Monday, September 11th. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 price objective on shares of TE Connectivity in a research note on Tuesday, October 17th. Royal Bank Of Canada reissued a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of TE Connectivity in a research note on Monday, October 30th. Finally, Citigroup boosted their price objective on TE Connectivity from $92.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $150.00.
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TE Connectivity 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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