TE Connectivity Ltd (TEL) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its stake in shares of TE Connectivity Ltd (NYSE:TEL) by 17.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 279,741 shares of the electronics maker’s stock after selling 60,595 shares during the quarter. Hsbc Holdings PLC owned approximately 0.08% of TE Connectivity worth $24,600,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Proffitt & Goodson Inc. bought a new position in TE Connectivity during the 3rd quarter valued at $106,000. Flagship Harbor Advisors LLC bought a new position in TE Connectivity during the 2nd quarter valued at $111,000. Fort L.P. bought a new position in TE Connectivity during the 2nd quarter valued at $115,000. Private Capital Group LLC bought a new position in TE Connectivity during the 2nd quarter valued at $121,000. Finally, Rational Advisors LLC boosted its stake in TE Connectivity by 138.1% during the 3rd quarter. Rational Advisors LLC now owns 1,905 shares of the electronics maker’s stock valued at $167,000 after acquiring an additional 1,105 shares during the last quarter. Hedge funds and other institutional investors own 89.01% of the company’s stock.

TE Connectivity stock opened at $76.93 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.98 and a current ratio of 1.41. TE Connectivity Ltd has a 1 year low of $73.26 and a 1 year high of $108.23. The stock has a market capitalization of $25.97 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.21 and a beta of 1.16.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.02. TE Connectivity had a net margin of 17.69% and a return on equity of 20.06%. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, research analysts expect that TE Connectivity Ltd will post 5.72 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be given a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.29%. TE Connectivity’s payout ratio is currently 31.37%.

A number of research analysts have commented on TEL shares. Royal Bank of Canada set a $114.00 price objective on shares of TE Connectivity and gave the company a “buy” rating in a research note on Tuesday, September 25th. Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Wednesday. SunTrust Banks reiterated a “hold” rating and set a $82.00 price objective on shares of TE Connectivity in a research note on Wednesday, October 31st. Robert W. Baird downgraded shares of TE Connectivity from an “outperform” rating to a “neutral” rating in a research note on Monday, October 1st. Finally, Macquarie started coverage on shares of TE Connectivity in a research note on Monday, October 8th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. TE Connectivity has an average rating of “Buy” and a consensus target price of $108.00.

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TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia–Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

Further Reading: Cash Flow

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

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