Ferguson Wellman Capital Management Inc. Lowers Stake in TE Connectivity Ltd. (NYSE:TEL)

Ferguson Wellman Capital Management Inc. lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 18,619 shares of the electronics maker’s stock after selling 73 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in TE Connectivity were worth $1,465,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. raised its position in TE Connectivity by 198.4% in the fourth quarter. Macquarie Group Ltd. now owns 27,600 shares of the electronics maker’s stock worth $1,912,000 after buying an additional 18,350 shares during the last quarter. McQueen Ball & Associates Inc. purchased a new stake in TE Connectivity during the first quarter worth $211,000. Chevy Chase Trust Holdings Inc. increased its stake in TE Connectivity by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 308,177 shares of the electronics maker’s stock worth $22,974,000 after buying an additional 9,359 shares during the period. Swarthmore Group Inc. increased its stake in TE Connectivity by 2,146.8% in the first quarter. Swarthmore Group Inc. now owns 211,200 shares of the electronics maker’s stock worth $15,745,000 after buying an additional 201,800 shares during the period. Finally, Fulton Bank N.A. increased its stake in TE Connectivity by 19.6% in the first quarter. Fulton Bank N.A. now owns 6,046 shares of the electronics maker’s stock worth $451,000 after buying an additional 992 shares during the period. 90.37% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Ltd. (TEL) opened at 77.71 on Friday. TE Connectivity Ltd. has a 12-month low of $60.38 and a 12-month high of $85.20. The firm has a 50-day moving average of $80.26 and a 200 day moving average of $76.97. The company has a market capitalization of $27.46 billion, a PE ratio of 16.50 and a beta of 1.06.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.07. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. Analysts forecast that TE Connectivity Ltd. will post $4.75 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $1.60 annualized dividend and a yield of 2.06%. TE Connectivity’s payout ratio is currently 33.97%.

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A number of equities research analysts have weighed in on TEL shares. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Wednesday, June 7th. BidaskClub cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Cowen and Company restated a “buy” rating and issued a $95.00 price objective on shares of TE Connectivity in a research report on Thursday, August 10th. Finally, Deutsche Bank AG upped their price objective on shares of TE Connectivity from $75.00 to $82.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. TE Connectivity presently has an average rating of “Hold” and an average target price of $83.43.

In other TE Connectivity news, COO Joseph B. Donahue sold 52,575 shares of the stock in a transaction on Thursday, August 3rd. The shares were 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 owns 93,484 shares of the company’s stock, valued at approximately $7,481,524.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Joseph B. Donahue sold 6,300 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $80.70, for a total transaction of $508,410.00. Following the sale, the chief operating officer now directly owns 34,609 shares of the company’s stock, valued at approximately $2,792,946.30. The disclosure for this sale can be found here. Insiders have sold a total of 726,407 shares of company stock valued at $57,751,239 in the last three months. 1.30% of the stock is currently owned by corporate 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.

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

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