Bridgewater Associates LP increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 245.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,896 shares of the electronics maker’s stock after purchasing an additional 16,981 shares during the quarter. Bridgewater Associates LP’s holdings in TE Connectivity were worth $1,880,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Prudential Financial Inc. lifted its stake in shares of TE Connectivity by 4.6% during the 2nd quarter. Prudential Financial Inc. now owns 511,865 shares of the electronics maker’s stock worth $40,273,000 after purchasing an additional 22,478 shares during the last quarter. Morgan Stanley lifted its stake in shares of TE Connectivity by 55.6% during the 1st quarter. Morgan Stanley now owns 1,552,290 shares of the electronics maker’s stock worth $115,724,000 after purchasing an additional 554,403 shares during the last quarter. Swiss National Bank lifted its stake in shares of TE Connectivity by 3.0% during the 2nd quarter. Swiss National Bank now owns 1,297,509 shares of the electronics maker’s stock worth $102,088,000 after purchasing an additional 38,400 shares during the last quarter. Eqis Capital Management Inc. lifted its stake in shares of TE Connectivity by 116.7% during the 2nd quarter. Eqis Capital Management Inc. now owns 7,086 shares of the electronics maker’s stock worth $558,000 after purchasing an additional 3,816 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of TE Connectivity by 56.5% during the 1st quarter. Toronto Dominion Bank now owns 95,909 shares of the electronics maker’s stock worth $7,149,000 after purchasing an additional 34,630 shares during the last quarter. Hedge funds and other institutional investors own 90.10% of the company’s stock.
TE Connectivity Ltd. (TEL) opened at 82.15 on Friday. The company’s 50-day moving average price is $79.62 and its 200 day moving average price is $77.57. The firm has a market capitalization of $29.03 billion, a price-to-earnings ratio of 17.44 and a beta of 1.05. TE Connectivity Ltd. has a 12 month low of $60.59 and a 12 month high of $85.20.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.07. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. TE Connectivity’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 EPS. Analysts predict that TE Connectivity Ltd. will post $4.75 EPS for the current year.
The firm also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Wednesday, August 23rd. TE Connectivity’s dividend payout ratio (DPR) is 33.97%.
In other TE Connectivity news, COO Joseph B. Donahue sold 52,575 shares of TE Connectivity stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $80.03, for a total transaction 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 approximately $7,481,524.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas J. Lynch sold 186,033 shares of TE Connectivity stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $79.29, for a total value of $14,750,556.57. Following the sale, the insider now directly owns 298,851 shares of the company’s stock, valued at $23,695,895.79. 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 ninety days. 1.30% of the stock is owned by company insiders.
TEL has been the subject of a number of analyst reports. Zacks Investment Research cut TE Connectivity from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Cowen and Company restated an “outperform” rating and set a $95.00 price objective (up from $90.00) on shares of TE Connectivity in a research note 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 note on Tuesday, June 6th. Finally, BidaskClub cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. TE Connectivity has an average rating of “Hold” and a consensus target price 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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