Wells Fargo & Company MN decreased its position in shares of TE Connectivity Ltd (NYSE:TEL) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,124,848 shares of the electronics maker’s stock after selling 53,558 shares during the quarter. Wells Fargo & Company MN owned approximately 0.93% of TE Connectivity worth $299,299,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of TE Connectivity by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 3,810,379 shares of the electronics maker’s stock worth $287,667,000 after buying an additional 188,148 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of TE Connectivity by 1.3% during the 1st quarter. Artisan Partners Limited Partnership now owns 3,740,958 shares of the electronics maker’s stock worth $302,082,000 after buying an additional 48,088 shares in the last quarter. American Century Companies Inc. grew its position in shares of TE Connectivity by 19.4% during the 1st quarter. American Century Companies Inc. now owns 3,172,350 shares of the electronics maker’s stock worth $256,167,000 after buying an additional 515,513 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of TE Connectivity by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,680,009 shares of the electronics maker’s stock worth $202,677,000 after buying an additional 202,886 shares in the last quarter. Finally, HL Financial Services LLC grew its position in shares of TE Connectivity by 3.6% during the 1st quarter. HL Financial Services LLC now owns 1,502,889 shares of the electronics maker’s stock worth $121,358,000 after buying an additional 52,125 shares in the last quarter. 90.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE TEL traded down $1.44 during mid-day trading on Friday, reaching $89.29. 1,742,287 shares of the company were exchanged, compared to its average volume of 1,544,053. The company has a quick ratio of 0.94, a current ratio of 1.47 and a debt-to-equity ratio of 0.32. The stock has a market cap of $30.48 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.54 and a beta of 1.20. TE Connectivity Ltd has a 1 year low of $69.84 and a 1 year high of $97.99. The firm has a 50-day moving average of $91.20 and a 200 day moving average of $88.32.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.08. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.43 billion. TE Connectivity had a return on equity of 18.33% and a net margin of 22.94%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 EPS. On average, equities analysts forecast that TE Connectivity Ltd will post 5.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Thursday, August 22nd. TE Connectivity’s dividend payout ratio (DPR) is presently 32.80%.
In other TE Connectivity news, Director Thomas J. Lynch sold 124,400 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $93.41, for a total value of $11,620,204.00. Following the completion of the sale, the director now directly owns 290,316 shares in the company, valued at $27,118,417.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven T. Merkt sold 65,650 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $93.55, for a total value of $6,141,557.50. Following the completion of the sale, the insider now owns 89,854 shares of the company’s stock, valued at $8,405,841.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 233,100 shares of company stock valued at $21,676,261. 0.80% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on TEL. Longbow Research downgraded TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 price target on the stock. in a research report on Monday, June 17th. HC Wainwright reissued a “sell” rating on shares of TE Connectivity in a research report on Friday, May 3rd. Morgan Stanley decreased their price objective on TE Connectivity from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Goldman Sachs Group upgraded TE Connectivity from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $92.00 to $105.00 in a research note on Thursday, June 20th. Finally, Wells Fargo & Co cut TE Connectivity from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $92.21.
TE Connectivity Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia?Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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