OPSEU Pension Plan Trust Fund lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,923 shares of the electronics maker’s stock after purchasing an additional 714 shares during the period. OPSEU Pension Plan Trust Fund’s holdings in TE Connectivity were worth $1,267,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its position in shares of TE Connectivity by 76.7% during the second quarter. Nuveen Asset Management LLC now owns 3,063,730 shares of the electronics maker’s stock worth $246,936,000 after purchasing an additional 1,329,456 shares during the period. Nordea Investment Management AB raised its position in shares of TE Connectivity by 87.9% during the second quarter. Nordea Investment Management AB now owns 2,494,190 shares of the electronics maker’s stock worth $200,408,000 after purchasing an additional 1,166,472 shares during the period. Point72 Asset Management L.P. raised its position in shares of TE Connectivity by 1,376.2% during the second quarter. Point72 Asset Management L.P. now owns 477,559 shares of the electronics maker’s stock worth $38,945,000 after purchasing an additional 445,209 shares during the period. Balyasny Asset Management LLC acquired a new position in shares of TE Connectivity during the second quarter worth approximately $30,230,000. Finally, Morgan Stanley raised its position in shares of TE Connectivity by 35.6% during the first quarter. Morgan Stanley now owns 1,360,988 shares of the electronics maker’s stock worth $85,716,000 after purchasing an additional 357,374 shares during the period. Institutional investors own 90.30% of the company’s stock.
A number of equities research analysts recently commented on TEL shares. Royal Bank of Canada increased their price target on TE Connectivity from $89.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, July 30th. SunTrust Banks increased their price target on TE Connectivity from $73.00 to $94.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research report on Friday, October 9th. UBS Group started coverage on TE Connectivity in a research report on Tuesday, September 15th. They issued a “buy” rating and a $130.00 price target for the company. Finally, Morgan Stanley increased their price target on TE Connectivity from $97.00 to $101.00 and gave the company an “equal weight” rating in a research report on Thursday, October 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $104.86.
NYSE:TEL traded up $0.08 during trading on Tuesday, reaching $111.13. The company’s stock had a trading volume of 18,632 shares, compared to its average volume of 1,957,512. The firm has a market cap of $36.73 billion, a price-to-earnings ratio of -358.23, a price-to-earnings-growth ratio of 2.07 and a beta of 1.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 1.43. The firm has a 50 day moving average of $103.56 and a 200-day moving average of $90.63. TE Connectivity Ltd. has a 12 month low of $48.62 and a 12 month high of $114.42.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.30. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.90 billion. TE Connectivity had a positive return on equity of 15.06% and a negative net margin of 0.81%. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. Equities research analysts forecast that TE Connectivity Ltd. will post 3.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, November 19th. This represents a $1.92 annualized dividend and a dividend yield of 1.73%. TE Connectivity’s payout ratio is 34.59%.
In other news, Director Terrence R. Curtin sold 90,350 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $108.64, for a total transaction of $9,815,624.00. Also, SVP Mario Calastri sold 10,757 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $94.60, for a total value of $1,017,612.20. The disclosure for this sale can be found here. Insiders have sold a total of 137,720 shares of company stock valued at $14,405,632 in the last quarter. 0.80% of the stock is owned by corporate insiders.
TE Connectivity Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the AsiaÂ-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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