Aviva PLC increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.6% during the fourth quarter, Holdings Channel reports. The fund owned 233,393 shares of the company’s stock after buying an additional 12,387 shares during the period. Aviva PLC owned 0.07% of TE Connectivity worth $16,172,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Virtus Investment Advisers Inc. acquired a new position in TE Connectivity during the third quarter worth $105,000. Paradigm Asset Management Co. LLC raised its position in TE Connectivity by 12.9% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 1,750 shares of the company’s stock worth $121,000 after buying an additional 200 shares during the period. Global X Management Co. LLC raised its position in TE Connectivity by 97.0% in the third quarter. Global X Management Co. LLC now owns 2,098 shares of the company’s stock worth $135,000 after buying an additional 1,033 shares during the period. SRB Corp raised its position in TE Connectivity by 3.8% in the third quarter. SRB Corp now owns 2,483 shares of the company’s stock worth $160,000 after buying an additional 92 shares during the period. Finally, Seizert Capital Partners LLC acquired a new position in TE Connectivity during the third quarter worth $205,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.
TE Connectivity Ltd. (NYSE:TEL) traded down 0.54% on Thursday, reaching $75.17. 949,618 shares of the company’s stock traded hands. The stock has a market capitalization of $26.71 billion, a price-to-earnings ratio of 13.15 and a beta of 1.16. The firm has a 50-day moving average price of $71.95 and a 200-day moving average price of $66.21. TE Connectivity Ltd. has a 52 week low of $53.90 and a 52 week high of $76.49.
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TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 25th. The company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.15. TE Connectivity had a return on equity of 19.26% and a net margin of 16.56%. The firm earned $3.10 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the company earned $0.84 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that TE Connectivity Ltd. will post $4.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Friday, February 24th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, February 22nd. TE Connectivity’s dividend payout ratio is currently 25.92%.
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A number of research firms recently weighed in on TEL. Stifel Nicolaus raised their target price on shares of TE Connectivity from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, January 26th. Goldman Sachs Group, Inc. (The) lowered shares of TE Connectivity from a “neutral” rating to a “sell” rating and raised their target price for the company from $63.00 to $64.00 in a report on Wednesday, January 4th. Royal Bank Of Canada raised their target price on shares of TE Connectivity from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. Zacks Investment Research lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a report on Monday, October 31st. Finally, Longbow Research raised shares of TE Connectivity from a “neutral” rating to a “buy” rating in a report on Thursday, January 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. TE Connectivity has a consensus rating of “Hold” and a consensus price target of $68.40.
In other TE Connectivity news, SVP Mario Calastri sold 17,600 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $74.65, for a total value of $1,313,840.00. Following the completion of the sale, the senior vice president now directly owns 46,678 shares of the company’s stock, valued at approximately $3,484,512.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas J. Lynch sold 123,633 shares of the firm’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $66.99, for a total value of $8,282,174.67. Following the completion of the sale, the chief executive officer now directly owns 279,675 shares of the company’s stock, valued at $18,735,428.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 680,538 shares of company stock valued at $48,330,192. 1.49% of the stock is owned by corporate insiders.
About TE Connectivity
TE Connectivity Ltd. is a technology company, which designs and manufactures connectivity and sensors solutions. The Company operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Company’s segments manufacture and distribute its products and solutions to a range of end markets.
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