Steward Partners Investment Advisory LLC Makes New $213,000 Investment in TE Connectivity Ltd (NYSE:TEL)

Steward Partners Investment Advisory LLC acquired a new position in TE Connectivity Ltd (NYSE:TEL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,234 shares of the electronics maker’s stock, valued at approximately $213,000.

A number of other institutional investors have also bought and sold shares of the business. Putnam FL Investment Management Co. raised its position in shares of TE Connectivity by 222.3% during the second quarter. Putnam FL Investment Management Co. now owns 23,467 shares of the electronics maker’s stock worth $2,248,000 after acquiring an additional 16,185 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of TE Connectivity during the second quarter worth $277,000. Wetherby Asset Management Inc. raised its position in shares of TE Connectivity by 1.0% during the second quarter. Wetherby Asset Management Inc. now owns 17,184 shares of the electronics maker’s stock worth $1,646,000 after acquiring an additional 168 shares during the last quarter. Appleton Partners Inc. MA raised its position in shares of TE Connectivity by 0.8% during the second quarter. Appleton Partners Inc. MA now owns 21,290 shares of the electronics maker’s stock worth $2,039,000 after acquiring an additional 165 shares during the last quarter. Finally, BTIM Corp. raised its position in shares of TE Connectivity by 4.2% during the second quarter. BTIM Corp. now owns 243,185 shares of the electronics maker’s stock worth $23,293,000 after acquiring an additional 9,800 shares during the last quarter. 91.55% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on the company. Cross Research downgraded TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Morgan Stanley decreased their target price 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 raised TE Connectivity from a “neutral” rating to a “buy” rating and boosted their target price for the company from $92.00 to $105.00 in a research note on Thursday, June 20th. Wells Fargo & Co cut TE Connectivity from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 25th. Finally, Longbow Research cut TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 target price for the company. in a research note on Monday, June 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $92.21.

In other news, Director Thomas J. Lynch sold 124,400 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $93.41, for a total transaction of $11,620,204.00. Following the transaction, the director now owns 290,316 shares in the company, valued at $27,118,417.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven T. Merkt sold 65,650 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $93.55, for a total value of $6,141,557.50. Following the transaction, the insider now owns 89,854 shares in the company, valued at approximately $8,405,841.70. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

NYSE:TEL opened at $89.78 on Wednesday. TE Connectivity Ltd has a 1 year low of $69.84 and a 1 year high of $97.99. The company has a current ratio of 1.47, a quick ratio of 0.94 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $30.16 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20. The firm has a 50-day simple moving average of $92.38.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.08. TE Connectivity had a return on equity of 18.33% and a net margin of 22.94%. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. As a group, equities analysts expect that TE Connectivity Ltd will post 5.52 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, August 22nd. This represents a $1.84 annualized dividend and a yield of 2.05%. TE Connectivity’s dividend payout ratio (DPR) is presently 32.80%.

About TE Connectivity

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.

See Also: What is a good rate of return for a mutual fund?

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd (NYSE:TEL).

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.