Aviva PLC Trims Position in TE Connectivity Ltd (TEL)

Aviva PLC trimmed its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 4.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 168,425 shares of the electronics maker’s stock after selling 7,308 shares during the period. Aviva PLC’s holdings in TE Connectivity were worth $14,810,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in TE Connectivity by 0.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 142,091 shares of the electronics maker’s stock worth $12,797,000 after purchasing an additional 619 shares during the period. Financial Counselors Inc. boosted its stake in TE Connectivity by 0.9% in the 2nd quarter. Financial Counselors Inc. now owns 93,913 shares of the electronics maker’s stock worth $8,458,000 after purchasing an additional 855 shares during the period. Commonwealth Bank of Australia boosted its stake in TE Connectivity by 2.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 40,187 shares of the electronics maker’s stock worth $3,614,000 after purchasing an additional 879 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in TE Connectivity by 1.9% in the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 48,533 shares of the electronics maker’s stock worth $4,268,000 after purchasing an additional 903 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in TE Connectivity by 35.5% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,630 shares of the electronics maker’s stock worth $327,000 after purchasing an additional 951 shares during the period. Hedge funds and other institutional investors own 89.01% of the company’s stock.

A number of brokerages have issued reports on TEL. Morgan Stanley decreased their target price on shares of TE Connectivity from $116.00 to $107.00 and set an “overweight” rating for the company in a research note on Monday, September 17th. Royal Bank of Canada set a $114.00 target price on shares of TE Connectivity and gave the company a “buy” rating in a research note on Tuesday, September 25th. Robert W. Baird lowered shares of TE Connectivity from an “outperform” rating to a “neutral” rating in a research note on Monday, October 1st. ValuEngine lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Finally, Macquarie began coverage on shares of TE Connectivity in a research note on Monday, October 8th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. TE Connectivity currently has a consensus rating of “Buy” and an average target price of $108.00.

Shares of NYSE:TEL opened at $76.93 on Friday. The firm has a market cap of $25.97 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 1.21 and a beta of 1.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.41 and a quick ratio of 0.98. TE Connectivity Ltd has a 12-month low of $73.26 and a 12-month high of $108.23.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.02. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.65 billion. TE Connectivity had a net margin of 17.69% and a return on equity of 20.06%. TE Connectivity’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Equities analysts forecast that TE Connectivity Ltd will post 5.72 EPS for the current fiscal 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 issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, November 21st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.29%. TE Connectivity’s dividend payout ratio is currently 31.37%.

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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.

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

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