Boston Partners Lowers Position in TE Connectivity Ltd. (NYSE:TEL)
Boston Partners decreased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 11,493,540 shares of the electronics maker’s stock after selling 285,666 shares during the period. TE Connectivity accounts for 1.1% of Boston Partners’ portfolio, making the stock its 12th largest position. Boston Partners’ holdings in TE Connectivity were worth $904,311,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Daiwa SB Investments Ltd. purchased a new stake in shares of TE Connectivity during the first quarter valued at $101,000. Guardian Life Insurance Co. of America increased its stake in shares of TE Connectivity by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock valued at $102,000 after buying an additional 9 shares in the last quarter. Portfolio Solutions LLC purchased a new stake in shares of TE Connectivity during the first quarter valued at $104,000. Duncker Streett & Co. Inc. increased its stake in shares of TE Connectivity by 17.8% in the second quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after buying an additional 200 shares in the last quarter. Finally, First Command Bank increased its stake in shares of TE Connectivity by 19.6% in the second quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock valued at $106,000 after buying an additional 221 shares in the last quarter. Institutional investors and hedge funds own 90.21% of the company’s stock.
TE Connectivity Ltd. (NYSE TEL) opened at 81.19 on Thursday. The stock has a market cap of $28.69 billion, a P/E ratio of 17.24 and a beta of 1.06. TE Connectivity Ltd. has a 1-year low of $59.62 and a 1-year high of $85.20. The company has a 50-day moving average of $80.25 and a 200 day moving average of $76.74.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.07. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. Analysts predict that TE Connectivity Ltd. will post $4.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 1.97%. TE Connectivity’s dividend payout ratio (DPR) is presently 33.97%.
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TEL has been the topic of several recent analyst reports. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Wednesday, June 7th. BidaskClub downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Cowen and Company reissued a “buy” rating and issued a $95.00 target price on shares of TE Connectivity in a research note on Thursday. Finally, Deutsche Bank AG increased their target price on shares of TE Connectivity from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $83.43.
In other TE Connectivity news, EVP John S. Jenkins sold 14,000 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $75.70, for a total transaction of $1,059,800.00. Following the sale, the executive vice president now directly owns 8,823 shares in the company, valued at $667,901.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph B. Donahue sold 6,300 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $80.70, for a total transaction of $508,410.00. Following the sale, the chief operating officer now owns 34,609 shares in the company, valued at $2,792,946.30. The disclosure for this sale can be found here. Insiders have sold 740,407 shares of company stock worth $58,811,039 over the last quarter. Insiders own 1.30% of the company’s stock.
About TE Connectivity
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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