Allianz Asset Management GmbH Has $98.13 Million Position in TE Connectivity Ltd. (TEL)

Allianz Asset Management GmbH increased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 56.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,181,469 shares of the electronics maker’s stock after purchasing an additional 424,335 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.33% of TE Connectivity worth $98,132,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of TE Connectivity by 2.3% in the second quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock worth $1,834,196,000 after purchasing an additional 521,884 shares during the last quarter. Boston Partners grew its stake in shares of TE Connectivity by 8.1% in the third quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock worth $1,032,298,000 after purchasing an additional 934,796 shares during the last quarter. FMR LLC grew its stake in shares of TE Connectivity by 9.7% in the second quarter. FMR LLC now owns 5,339,755 shares of the electronics maker’s stock worth $420,131,000 after purchasing an additional 472,037 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in TE Connectivity by 9.4% in the second quarter. EdgePoint Investment Group Inc. now owns 4,015,693 shares of the electronics maker’s stock valued at $315,955,000 after buying an additional 346,093 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in TE Connectivity by 7.1% in the second quarter. Wells Fargo & Company MN now owns 3,903,233 shares of the electronics maker’s stock valued at $307,105,000 after buying an additional 259,969 shares during the period. 90.22% of the stock is currently owned by institutional investors.

In other news, COO Joseph B. Donahue sold 1,238 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $93.23, for a total transaction of $115,418.74. Following the transaction, the chief operating officer now owns 52,134 shares in the company, valued at $4,860,452.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Heath A. Mitts sold 10,736 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $93.14, for a total transaction of $999,951.04. The disclosure for this sale can be found here. Insiders have sold 759,805 shares of company stock worth $69,542,539 in the last quarter. Company insiders own 1.49% of the company’s stock.

Several research firms recently issued reports on TEL. BidaskClub lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Morgan Stanley restated an “overweight” rating and issued a $89.00 target price on shares of TE Connectivity in a report on Wednesday, September 20th. Cowen restated a “buy” rating and issued a $95.00 target price on shares of TE Connectivity in a report on Thursday, August 10th. Zacks Investment Research lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Finally, Royal Bank Of Canada dropped their target price on shares of TE Connectivity from GBX 300 ($4.04) to GBX 225 ($3.03) and set an “outperform” rating on the stock in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $150.00.

Shares of TE Connectivity Ltd. (NYSE TEL) traded down $0.31 during midday trading on Wednesday, hitting $92.56. 1,642,200 shares of the stock traded hands, compared to its average volume of 1,436,673. TE Connectivity Ltd. has a 52-week low of $66.20 and a 52-week high of $96.68. The firm has a market capitalization of $32,656.54, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.62 and a beta of 1.08. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. sell-side analysts forecast that TE Connectivity Ltd. will post 5.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.73%. TE Connectivity’s dividend payout ratio is currently 33.97%.

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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.

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

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