State of New Jersey Common Pension Fund D lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 13.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,100 shares of the electronics maker’s stock after selling 25,900 shares during the period. State of New Jersey Common Pension Fund D’s holdings in TE Connectivity were worth $13,541,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in TEL. Howland Capital Management LLC raised its stake in shares of TE Connectivity by 0.4% in the first quarter. Howland Capital Management LLC now owns 266,606 shares of the electronics maker’s stock worth $19,875,000 after buying an additional 1,019 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of TE Connectivity during the first quarter worth $211,000. First National Bank & Trust Co. of Newtown raised its stake in shares of TE Connectivity by 0.4% in the first quarter. First National Bank & Trust Co. of Newtown now owns 10,870 shares of the electronics maker’s stock worth $811,000 after buying an additional 45 shares during the last quarter. Parametrica Management Ltd bought a new stake in shares of TE Connectivity during the first quarter worth $278,000. Finally, Orrstown Financial Services Inc. raised its stake in TE Connectivity by 19.7% in the first quarter. Orrstown Financial Services Inc. now owns 1,700 shares of the electronics maker’s stock valued at $127,000 after buying an additional 280 shares in the last quarter. Institutional investors own 90.37% of the company’s stock.
TE Connectivity Ltd. (NYSE TEL) traded up 0.13% during mid-day trading on Friday, reaching $77.71. 1,407,046 shares of the company’s stock traded hands. The stock has a market capitalization of $27.46 billion, a PE ratio of 16.50 and a beta of 1.06. The stock’s 50 day moving average is $80.26 and its 200-day moving average is $76.97. TE Connectivity Ltd. has a 52 week low of $60.38 and a 52 week high of $85.20.
TE Connectivity (NYSE:TEL) last released its earnings results 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. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. On average, equities analysts anticipate that TE Connectivity Ltd. will post $4.75 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, August 23rd. TE Connectivity’s dividend payout ratio (DPR) is currently 33.97%.
Several equities research analysts have recently commented on the stock. BidaskClub lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Monday, May 29th. Cowen and Company restated a “buy” rating and issued a $95.00 price target on shares of TE Connectivity in a report on Thursday, August 10th. Royal Bank Of Canada restated an “outperform” rating and issued a $86.00 price target (up previously from $82.00) on shares of TE Connectivity in a report on Saturday, April 29th. Finally, Deutsche Bank AG lifted their price objective on shares of TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock 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 firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $80.03, for a total value of $4,207,577.25. Following the completion of the sale, the chief operating officer now owns 93,484 shares in the company, valued at approximately $7,481,524.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Joseph B. Donahue sold 6,300 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $80.70, for a total value of $508,410.00. Following the completion of the sale, the chief operating officer now 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 sold a total of 726,407 shares of company stock worth $57,751,239 in the last ninety days. Insiders own 1.30% of the company’s stock.
About TE Connectivity
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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