Public Employees Retirement Association of Colorado cut its position in TE Connectivity Ltd (NYSE:TEL) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,932 shares of the electronics maker’s stock after selling 819 shares during the period. Public Employees Retirement Association of Colorado’s holdings in TE Connectivity were worth $4,021,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Goelzer Investment Management Inc. increased its position in shares of TE Connectivity by 2.9% in the third quarter. Goelzer Investment Management Inc. now owns 80,478 shares of the electronics maker’s stock worth $5,181,000 after buying an additional 2,260 shares during the last quarter. Trexquant Investment LP bought a new position in shares of TE Connectivity during the fourth quarter worth approximately $1,760,000. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of TE Connectivity by 64.2% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,456 shares of the electronics maker’s stock worth $1,002,000 after buying an additional 5,650 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of TE Connectivity by 9.9% in the fourth quarter. Federated Investors Inc. PA now owns 405,547 shares of the electronics maker’s stock worth $28,096,000 after buying an additional 36,451 shares during the last quarter. Finally, APG Asset Management N.V. increased its position in shares of TE Connectivity by 41.8% in the third quarter. APG Asset Management N.V. now owns 1,120,769 shares of the electronics maker’s stock worth $72,155,000 after buying an additional 330,212 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.
Shares of TE Connectivity Ltd (NYSE:TEL) traded up 1.30% during midday trading on Friday, reaching $74.85. The company had a trading volume of 707,474 shares. The company has a market capitalization of $26.57 billion, a P/E ratio of 12.86 and a beta of 1.16. TE Connectivity Ltd has a 12 month low of $54.54 and a 12 month high of $79.69. The firm’s 50 day moving average price is $74.69 and its 200-day moving average price is $72.07.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 26th. The electronics maker reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.11. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. TE Connectivity had a net margin of 16.56% and a return on equity of 19.26%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. Analysts anticipate that TE Connectivity Ltd will post $4.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 26th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.37. TE Connectivity’s dividend payout ratio is currently 25.92%.
A number of equities analysts have commented on TEL shares. Stifel Nicolaus lifted their target price on TE Connectivity from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. Zacks Investment Research downgraded TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. Cowen and Company initiated coverage on TE Connectivity in a research note on Tuesday, March 21st. They issued an “outperform” rating and a $90.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $82.00 price objective on shares of TE Connectivity in a research report on Tuesday, March 28th. Finally, Deutsche Bank AG boosted their price objective on TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $82.29.
In related news, EVP John S. Jenkins sold 14,000 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $75.70, for a total value of $1,059,800.00. Following the completion of the transaction, the executive vice president now owns 8,823 shares of the company’s stock, valued at $667,901.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas J. Lynch sold 131,875 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $75.93, for a total transaction of $10,013,268.75. Following the completion of the transaction, the chief executive officer now directly owns 318,787 shares of the company’s stock, valued at approximately $24,205,496.91. The disclosure for this sale can be found here. Insiders have sold 437,209 shares of company stock valued at $33,006,586 in the last ninety days. 1.49% of the stock is owned by company insiders.
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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