Sompo Japan Nipponkoa Asset Management CO. LTD. increased its stake in TE Connectivity Ltd (NYSE:TEL) by 19.5% in the first quarter, Holdings Channel reports. The firm owned 56,910 shares of the electronics maker’s stock after purchasing an additional 9,300 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in TE Connectivity were worth $3,584,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in TE Connectivity by 0.5% in the 1st quarter. BlackRock Inc. now owns 18,285,115 shares of the electronics maker’s stock worth $1,151,596,000 after purchasing an additional 86,455 shares in the last quarter. State Street Corp raised its position in TE Connectivity by 1.9% during the 4th quarter. State Street Corp now owns 12,857,587 shares of the electronics maker’s stock worth $1,232,271,000 after buying an additional 233,761 shares during the last quarter. Capital World Investors raised its position in TE Connectivity by 6.8% during the 4th quarter. Capital World Investors now owns 11,259,513 shares of the electronics maker’s stock worth $1,079,112,000 after buying an additional 720,186 shares during the last quarter. Geode Capital Management LLC raised its position in TE Connectivity by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 4,360,846 shares of the electronics maker’s stock worth $417,006,000 after buying an additional 123,626 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in TE Connectivity by 13.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,273,906 shares of the electronics maker’s stock worth $409,611,000 after buying an additional 490,089 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.
A number of equities analysts have issued reports on TEL shares. Zacks Investment Research raised shares of TE Connectivity from a “sell” rating to a “hold” rating and set a $72.00 price target for the company in a research report on Friday, May 15th. Bank of America reduced their price target on shares of TE Connectivity from $109.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Oppenheimer began coverage on shares of TE Connectivity in a research report on Wednesday, May 6th. They set a “buy” rating and a $92.00 price target for the company. Morgan Stanley cut their target price on shares of TE Connectivity from $91.00 to $74.00 and set an “equal weight” rating for the company in a report on Wednesday, March 18th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $102.00 target price on shares of TE Connectivity in a report on Thursday, January 30th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $92.12.
NYSE TEL traded down $0.06 on Friday, hitting $76.23. The company had a trading volume of 1,186,299 shares, compared to its average volume of 1,852,155. The company has a market capitalization of $25.16 billion, a PE ratio of 14.31, a PEG ratio of 1.95 and a beta of 1.31. The company’s fifty day moving average price is $69.65 and its 200-day moving average price is $84.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.94. TE Connectivity Ltd has a 12-month low of $48.62 and a 12-month high of $101.00.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.00 by $0.29. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $2.94 billion. TE Connectivity had a net margin of 5.36% and a return on equity of 17.58%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 EPS. On average, sell-side analysts anticipate that TE Connectivity Ltd will post 3.75 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.52%. The ex-dividend date is Thursday, May 21st. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.46. TE Connectivity’s payout ratio is presently 34.59%.
About TE Connectivity
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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