Wedge Capital Management L L P NC cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.1% during the second quarter, Holdings Channel reports. The institutional investor owned 746,965 shares of the electronics maker’s stock after selling 74,760 shares during the period. Wedge Capital Management L L P NC’s holdings in TE Connectivity were worth $58,771,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TEL. First Trust Advisors LP increased its position in TE Connectivity by 12.2% in the second quarter. First Trust Advisors LP now owns 265,372 shares of the electronics maker’s stock valued at $20,879,000 after buying an additional 28,867 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in TE Connectivity by 5.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,113,847 shares of the electronics maker’s stock valued at $87,638,000 after buying an additional 59,171 shares in the last quarter. Wetherby Asset Management Inc. increased its position in TE Connectivity by 18.8% in the second quarter. Wetherby Asset Management Inc. now owns 10,639 shares of the electronics maker’s stock valued at $837,000 after buying an additional 1,683 shares in the last quarter. Global X Management Co. LLC increased its position in TE Connectivity by 25.6% in the second quarter. Global X Management Co. LLC now owns 4,204 shares of the electronics maker’s stock valued at $331,000 after buying an additional 858 shares in the last quarter. Finally, Pioneer Investment Management Inc. increased its position in TE Connectivity by 45.8% in the second quarter. Pioneer Investment Management Inc. now owns 267,604 shares of the electronics maker’s stock valued at $21,055,000 after buying an additional 84,031 shares in the last quarter. Institutional investors own 90.21% of the company’s stock.

TE Connectivity Ltd. (NYSE TEL) opened at 78.66 on Friday. TE Connectivity Ltd. has a one year low of $60.08 and a one year high of $85.20. The firm has a 50-day moving average of $80.24 and a 200-day moving average of $76.81. The stock has a market capitalization of $27.80 billion, a PE ratio of 16.70 and a beta of 1.06.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.07. The company had revenue of $3.37 billion during 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 business posted $1.08 EPS. On average, equities research analysts forecast 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date is Wednesday, August 23rd. TE Connectivity’s dividend payout ratio is presently 33.97%.

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Several research firms have issued reports on TEL. Cowen and Company restated a “buy” rating and issued a $95.00 price objective on shares of TE Connectivity in a research note on Thursday. BidaskClub downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Royal Bank Of Canada increased their target price on shares of TE Connectivity from $86.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 27th. Finally, Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Thursday, June 22nd. 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 stock. TE Connectivity has an average rating of “Buy” and a consensus price target of $83.43.

In related news, COO Joseph B. Donahue sold 6,300 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $80.70, for a total transaction of $508,410.00. Following the completion of the sale, the chief operating officer now directly owns 34,609 shares of the company’s stock, valued at $2,792,946.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas J. Lynch sold 186,034 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $78.65, for a total transaction of $14,631,574.10. Following the sale, the insider now directly owns 504,885 shares of the company’s stock, valued at $39,709,205.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 726,407 shares of company stock valued at $57,751,239. Company 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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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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