TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Trexquant Investment LP
Trexquant Investment LP cut its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 65.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,843 shares of the electronics maker’s stock after selling 27,957 shares during the period. Trexquant Investment LP’s holdings in TE Connectivity were worth $1,168,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. Morgan Stanley increased its stake in shares of TE Connectivity by 55.6% in the first quarter. Morgan Stanley now owns 1,552,290 shares of the electronics maker’s stock worth $115,724,000 after buying an additional 554,403 shares in the last quarter. Howland Capital Management LLC increased its stake in shares of TE Connectivity by 0.4% in the first quarter. Howland Capital Management LLC now owns 266,606 shares of the electronics maker’s stock worth $19,875,000 after buying an additional 1,019 shares in the last quarter. First Manhattan Co. increased its stake in shares of TE Connectivity by 18.1% in the first quarter. First Manhattan Co. now owns 3,918 shares of the electronics maker’s stock worth $252,000 after buying an additional 600 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of TE Connectivity by 56.5% in the first quarter. Toronto Dominion Bank now owns 95,909 shares of the electronics maker’s stock worth $7,149,000 after buying an additional 34,630 shares in the last quarter. Finally, Fiduciary Management Inc. WI increased its stake in shares of TE Connectivity by 3.6% in the first quarter. Fiduciary Management Inc. WI now owns 9,616,782 shares of the electronics maker’s stock worth $716,931,000 after buying an additional 331,080 shares in the last quarter. 90.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TE Connectivity Ltd. (NYSE:TEL) opened at 80.68 on Wednesday. The firm has a market capitalization of $28.51 billion, a P/E ratio of 17.13 and a beta of 1.06. The stock has a 50 day moving average price of $79.98 and a 200 day moving average price of $76.36. TE Connectivity Ltd. has a 52 week low of $58.33 and a 52 week high of $85.20.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.07. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter last year, the company posted $1.08 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts forecast that TE Connectivity Ltd. will post $4.74 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.98%. TE Connectivity’s dividend payout ratio is currently 33.97%.
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TEL has been the topic of a number of research analyst reports. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Friday, June 16th. Deutsche Bank AG raised their target price on TE Connectivity from $75.00 to $82.00 and gave the company a “hold” rating in a report on Friday, April 28th. Royal Bank Of Canada raised their price objective on TE Connectivity from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, June 27th. BidaskClub downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Cowen and Company reissued an “outperform” rating and set a $95.00 price objective (up previously from $90.00) on shares of TE Connectivity in a report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $83.43.
In related news, SVP Robert J. Ott sold 31,400 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $79.14, for a total value of $2,484,996.00. Following the sale, the senior vice president now owns 42,371 shares in the company, valued at $3,353,240.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John S. Jenkins sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $75.70, for a total transaction of $1,059,800.00. Following the completion of the sale, the executive vice president now owns 8,823 shares in the company, valued at approximately $667,901.10. The disclosure for this sale can be found here. Insiders sold 734,107 shares of company stock worth $58,302,629 in the last 90 days. 1.49% of the stock is currently owned by corporate insiders.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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