CIBC Asset Management Inc Purchases 26 Shares of TE Connectivity Ltd. (NYSE:TEL)
CIBC Asset Management Inc boosted its position in TE Connectivity Ltd. (NYSE:TEL) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 21,479 shares of the electronics maker’s stock after buying an additional 26 shares during the period. CIBC Asset Management Inc’s holdings in TE Connectivity were worth $1,690,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. boosted its position in shares of TE Connectivity by 198.4% in the fourth quarter. Macquarie Group Ltd. now owns 27,600 shares of the electronics maker’s stock worth $1,912,000 after buying an additional 18,350 shares during the last quarter. Creative Planning boosted its position in shares of TE Connectivity by 0.3% in the first quarter. Creative Planning now owns 19,168 shares of the electronics maker’s stock worth $1,429,000 after buying an additional 48 shares during the last quarter. Bank of Montreal Can boosted its position in shares of TE Connectivity by 25.3% in the first quarter. Bank of Montreal Can now owns 508,027 shares of the electronics maker’s stock worth $37,874,000 after buying an additional 102,712 shares during the last quarter. Daiwa SB Investments Ltd. purchased a new position in shares of TE Connectivity during the first quarter worth about $101,000. Finally, Regentatlantic Capital LLC boosted its position in shares of TE Connectivity by 5.8% in the first quarter. Regentatlantic Capital LLC now owns 13,973 shares of the electronics maker’s stock worth $1,042,000 after buying an additional 770 shares during the last quarter. 90.21% of the stock is owned by institutional investors and hedge funds.
Shares of TE Connectivity Ltd. (NYSE:TEL) opened at 81.19 on Thursday. TE Connectivity Ltd. has a 52-week low of $59.62 and a 52-week high of $85.20. The firm has a 50 day moving average price of $80.25 and a 200-day moving average price of $76.74. The company has a market cap of $28.69 billion, a price-to-earnings ratio of 17.24 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last posted 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. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. TE Connectivity’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. Equities research analysts anticipate that TE Connectivity Ltd. will post $4.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.97%. TE Connectivity’s payout ratio is presently 33.97%.
A number of equities analysts have issued reports on TEL shares. Deutsche Bank AG upped their target price on TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Morgan Stanley upped their target price on TE Connectivity from $85.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, April 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $86.00 target price (up previously from $82.00) on shares of TE Connectivity in a report on Saturday, April 29th. Zacks Investment Research cut TE Connectivity from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $95.00 target price (up previously from $90.00) on shares of TE Connectivity in a report on Monday, June 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. TE Connectivity currently has a consensus rating of “Buy” and an average target price of $83.43.
In other TE Connectivity news, EVP John S. Jenkins sold 14,000 shares of TE Connectivity 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 sale, the executive vice president now directly owns 8,823 shares of the company’s stock, valued at approximately $667,901.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Joseph B. Donahue sold 6,300 shares of TE Connectivity stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.70, for a total value of $508,410.00. Following the sale, the chief operating officer now directly owns 34,609 shares in the company, valued at $2,792,946.30. The disclosure for this sale can be found here. Insiders sold 740,407 shares of company stock worth $58,811,039 over the last three months. 1.49% of the stock is owned by 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.
Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL).
Receive News & Ratings for TE Connectivity Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.