Cumberland Partners Ltd Raises Stake in Tyco International Ltd. (TYC)
Cumberland Partners Ltd increased its position in shares of Tyco International Ltd. (NYSE:TYC) by 65.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 81,550 shares of the company’s stock after buying an additional 32,300 shares during the period. Cumberland Partners Ltd’s holdings in Tyco International were worth $3,474,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Tyco International during the fourth quarter worth $65,534,000. Aperio Group LLC increased its position in shares of Tyco International by 19.4% in the first quarter. Aperio Group LLC now owns 141,834 shares of the company’s stock worth $5,207,000 after buying an additional 23,083 shares during the last quarter. Teachers Advisors Inc. increased its position in shares of Tyco International by 3.3% in the first quarter. Teachers Advisors Inc. now owns 628,824 shares of the company’s stock worth $23,084,000 after buying an additional 20,322 shares during the last quarter. State Street Corp increased its position in shares of Tyco International by 1.1% in the first quarter. State Street Corp now owns 16,191,168 shares of the company’s stock worth $594,383,000 after buying an additional 172,130 shares during the last quarter. Finally, Cleararc Capital Inc. increased its position in shares of Tyco International by 0.3% in the first quarter. Cleararc Capital Inc. now owns 10,363 shares of the company’s stock worth $380,000 after buying an additional 36 shares during the last quarter. 89.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tyco International Ltd. (NYSE:TYC) remained flat at $45.59 during mid-day trading on Thursday. The stock’s 50 day moving average is $44.69 and its 200-day moving average is $40.50. Tyco International Ltd. has a one year low of $28.94 and a one year high of $46.19.
Tyco International (NYSE:TYC) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The company earned $2.45 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Tyco International had a return on equity of 20.59% and a net margin of 5.45%. Tyco International’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. On average, equities research analysts expect that Tyco International Ltd. will post $2.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 5th were given a dividend of $0.23 per share. This is a boost from Tyco International’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Wednesday, August 3rd. Tyco International’s dividend payout ratio is currently 74.80%.
TYC has been the topic of a number of recent analyst reports. Atlantic Securities raised Tyco International from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $52.00 in a research note on Thursday, May 26th. Buckingham Research initiated coverage on Tyco International in a research note on Wednesday, June 1st. They issued a “neutral” rating on the stock. Royal Bank Of Canada downgraded Tyco International from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $41.00 to $34.00 in a research note on Wednesday, June 1st. Zacks Investment Research raised Tyco International from a “sell” rating to a “hold” rating in a research note on Friday, June 10th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Tyco International in a research note on Saturday, July 9th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $40.58.
In related news, Director Edward D. Breen sold 353,944 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $44.40, for a total transaction of $15,715,113.60. Following the sale, the director now owns 1,835,739 shares in the company, valued at $81,506,811.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.
Tyco International Company Profile
Tyco International Ltd. (Tyco) is a diversified company, which provides security products and services, fire protection and detection products and services, valves and controls, and other industrial products. It operates in five segments: ADT Worldwide, Flow Control, Fire Protection Services, Electrical and Metal Products, and Safety Products.
Want to see what other hedge funds are holding TYC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tyco International Ltd. (NYSE:TYC).
Receive News & Ratings for Tyco International Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tyco International Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.