Citigroup Inc. boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 11.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 359,090 shares of the electronics maker’s stock after buying an additional 37,521 shares during the quarter. Citigroup Inc. owned approximately 0.10% of TE Connectivity worth $28,253,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in TEL. Guardian Life Insurance Co. of America lifted its holdings in TE Connectivity by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock worth $102,000 after buying an additional 9 shares during the period. Duncker Streett & Co. Inc. lifted its holdings in TE Connectivity by 17.8% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock worth $104,000 after buying an additional 200 shares during the period. First Command Bank lifted its holdings in TE Connectivity by 19.6% during the 2nd quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock worth $106,000 after buying an additional 221 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings 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 worth $109,000 after buying an additional 384 shares during the period. Finally, Acrospire Investment Management LLC acquired a new position in TE Connectivity during the 2nd quarter worth about $126,000. 90.08% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Thomas J. Lynch sold 186,034 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $78.65, for a total transaction of $14,631,574.10. Following the completion of the sale, the insider now directly owns 504,885 shares in the company, valued at $39,709,205.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas J. Lynch sold 186,033 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $79.29, for a total transaction of $14,750,556.57. Following the sale, the insider now owns 298,851 shares of the company’s stock, valued at $23,695,895.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 749,165 shares of company stock valued at $59,522,187. 1.49% of the stock is currently owned by company insiders.
Shares of TE Connectivity Ltd. (TEL) traded down 0.0849% on Tuesday, hitting $82.5499. The stock had a trading volume of 423,833 shares. The firm has a 50 day moving average of $79.64 and a 200-day moving average of $77.66. The firm has a market capitalization of $29.17 billion, a price-to-earnings ratio of 17.5265 and a beta of 1.05. TE Connectivity Ltd. has a 1-year low of $60.59 and a 1-year high of $85.20.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share 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 analyst estimates of $3.28 billion. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. TE Connectivity’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 earnings per share. Equities analysts predict that TE Connectivity Ltd. will post $4.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.94%. TE Connectivity’s dividend payout ratio is currently 33.97%.
COPYRIGHT VIOLATION NOTICE: “Citigroup Inc. Buys 37,521 Shares of TE Connectivity Ltd. (TEL)” was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.chaffeybreeze.com/2017/09/19/citigroup-inc-buys-37521-shares-of-te-connectivity-ltd-tel.html.
Several research analysts have commented on TEL shares. BidaskClub downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Thursday, June 22nd. Finally, Cowen and Company reaffirmed a “buy” rating and set a $95.00 target price on shares of TE Connectivity in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. TE Connectivity presently has a consensus rating of “Hold” and an average price target of $83.86.
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.
Receive News & Ratings for TE Connectivity Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.