Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in TE Connectivity Ltd. (NYSE:TEL) by 55.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,263 shares of the electronics maker’s stock after buying an additional 112,161 shares during the quarter. TE Connectivity makes up approximately 1.1% of Meag Munich Ergo Kapitalanlagegesellschaft MBH’s portfolio, making the stock its 16th biggest position. Meag Munich Ergo Kapitalanlagegesellschaft MBH owned about 0.09% of TE Connectivity worth $26,131,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Duncker Streett & Co. Inc. boosted its stake in TE Connectivity by 17.8% in the second 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 in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in TE Connectivity by 38.6% in the second 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 in the last quarter. Acrospire Investment Management LLC purchased a new stake in TE Connectivity in the second quarter worth approximately $126,000. Harfst & Associates Inc. boosted its stake in TE Connectivity by 46.2% in the second quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock worth $135,000 after buying an additional 544 shares in the last quarter. Finally, Orrstown Financial Services Inc. boosted its stake in TE Connectivity by 7.9% in the second quarter. Orrstown Financial Services Inc. now owns 1,835 shares of the electronics maker’s stock worth $144,000 after buying an additional 135 shares in the last quarter. 90.12% of the stock is owned by institutional investors and hedge funds.
TEL has been the subject of several research reports. SunTrust Banks, Inc. upped their target price on TE Connectivity to $90.00 and gave the stock a “hold” rating in a research note on Thursday, November 2nd. They noted that the move was a valuation call. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Monday, September 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $87.00 price objective on shares of TE Connectivity in a research report on Tuesday, October 17th. Royal Bank Of Canada reiterated a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of TE Connectivity in a research report on Monday, October 30th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $89.00 price objective on shares of TE Connectivity in a research report on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $150.00.
TE Connectivity Ltd. (NYSE TEL) traded up $0.61 during midday trading on Friday, hitting $93.53. The stock had a trading volume of 1,022,400 shares, compared to its average volume of 1,175,886. TE Connectivity Ltd. has a 52-week low of $66.13 and a 52-week high of $93.75. The stock has a market capitalization of $33,052.00, a PE ratio of 19.36, a P/E/G ratio of 1.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.54.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. equities research analysts expect that TE Connectivity Ltd. will post 5.26 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.71%. TE Connectivity’s dividend payout ratio is currently 33.97%.
In related news, CFO Heath A. Mitts sold 10,736 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $93.14, for a total transaction of $999,951.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James O’toole sold 45,962 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $93.13, for a total value of $4,280,441.06. Following the sale, the insider now directly owns 21,950 shares in the company, valued at $2,044,203.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 512,503 shares of company stock worth $43,640,863. Insiders own 1.30% of the company’s stock.
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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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