TE Connectivity Ltd (TEL) Shares Bought by Port Capital LLC

Port Capital LLC grew its position in TE Connectivity Ltd (NYSE:TEL) by 79.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,505 shares of the electronics maker’s stock after purchasing an additional 83,215 shares during the period. TE Connectivity makes up approximately 2.0% of Port Capital LLC’s holdings, making the stock its 15th largest holding. Port Capital LLC’s holdings in TE Connectivity were worth $16,487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEL. Proffitt & Goodson Inc. acquired a new position in TE Connectivity during the 3rd quarter worth approximately $106,000. Flagship Harbor Advisors LLC acquired a new position in TE Connectivity during the 2nd quarter worth approximately $111,000. Fort L.P. acquired a new position in TE Connectivity during the 2nd quarter worth approximately $115,000. Private Capital Group LLC acquired a new position in TE Connectivity during the 2nd quarter worth approximately $121,000. Finally, Rational Advisors LLC lifted its position in TE Connectivity by 138.1% during the 3rd quarter. Rational Advisors LLC now owns 1,905 shares of the electronics maker’s stock worth $167,000 after acquiring an additional 1,105 shares in the last quarter. 91.74% of the stock is currently owned by institutional investors and hedge funds.

TEL stock traded down $1.36 during midday trading on Thursday, hitting $72.81. 9,558 shares of the company’s stock were exchanged, compared to its average volume of 2,235,486. The company has a quick ratio of 0.98, a current ratio of 1.41 and a debt-to-equity ratio of 0.28. TE Connectivity Ltd has a 12-month low of $73.26 and a 12-month high of $108.23. The company has a market capitalization of $25.44 billion, a PE ratio of 12.98, a P/E/G ratio of 1.19 and a beta of 1.16.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.02. TE Connectivity had a return on equity of 20.06% and a net margin of 17.69%. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the business earned $1.25 EPS. TE Connectivity’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that TE Connectivity Ltd will post 5.72 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $1.76 annualized dividend and a yield of 2.42%. TE Connectivity’s dividend payout ratio is presently 31.37%.

Several equities analysts recently commented on the company. Zacks Investment Research raised TE Connectivity from a “sell” rating to a “hold” rating in a research report on Thursday, November 22nd. Jefferies Financial Group assumed coverage on TE Connectivity in a research report on Tuesday. They set a “hold” rating and a $84.00 price target on the stock. Royal Bank of Canada reduced their price target on TE Connectivity to $96.00 and set a “positive” rating on the stock in a research report on Thursday, November 1st. They noted that the move was a valuation call. SunTrust Banks reissued a “hold” rating and set a $82.00 price target on shares of TE Connectivity in a research report on Wednesday, October 31st. Finally, Macquarie began coverage on TE Connectivity in a research report on Monday, October 8th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $106.00.

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TE Connectivity 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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