Norinchukin Bank The Raises Stake in TE Connectivity Ltd. (TEL)
Norinchukin Bank The lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,676 shares of the electronics maker’s stock after purchasing an additional 705 shares during the quarter. Norinchukin Bank The’s holdings in TE Connectivity were worth $3,751,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Guardian Life Insurance Co. of America raised its position in TE Connectivity by 0.7% in the 1st 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 during the last quarter. Duncker Streett & Co. Inc. raised its position in TE Connectivity by 17.8% in the 2nd 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 during the last quarter. First Command Bank raised its position in TE Connectivity by 19.6% in the 2nd 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 during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in TE Connectivity by 38.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock valued at $109,000 after buying an additional 384 shares during the last quarter. Finally, Orrstown Financial Services Inc. raised its position in TE Connectivity by 7.9% in the 2nd quarter. Orrstown Financial Services Inc. now owns 1,835 shares of the electronics maker’s stock valued at $144,000 after buying an additional 135 shares during the last quarter. 90.10% of the stock is currently owned by institutional investors.
A number of research firms recently commented on TEL. Zacks Investment Research lowered TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub lowered TE Connectivity from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Cowen and Company reissued a “buy” rating and issued a $95.00 price target on shares of TE Connectivity in a research report on Thursday, August 10th. Finally, Royal Bank Of Canada increased their price target on TE Connectivity from $86.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. TE Connectivity currently has an average rating of “Hold” and a consensus price target of $83.43.
TE Connectivity Ltd. (NYSE TEL) traded down 0.22% during midday trading on Wednesday, reaching $81.26. The company had a trading volume of 264,609 shares. The stock has a market capitalization of $28.72 billion, a PE ratio of 17.25 and a beta of 1.05. TE Connectivity Ltd. has a 12-month low of $60.59 and a 12-month high of $85.20. The company has a 50-day moving average of $79.61 and a 200-day moving average of $77.41.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.07. The business had revenue of $3.37 billion during 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%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 earnings per share. On average, analysts predict that TE Connectivity Ltd. will post $4.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Wednesday, August 23rd. TE Connectivity’s payout ratio is 33.97%.
In other news, insider Thomas J. Lynch sold 186,033 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $79.29, for a total value of $14,750,556.57. Following the completion of the transaction, the insider now owns 298,851 shares in the company, valued at $23,695,895.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph B. Donahue sold 52,575 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $80.03, for a total value of $4,207,577.25. Following the completion of the transaction, the chief operating officer now owns 93,484 shares of the company’s stock, valued at approximately $7,481,524.52. The disclosure for this sale can be found here. Insiders have sold 749,165 shares of company stock valued at $59,522,187 in the last quarter. 1.49% of the stock is owned by company insiders.
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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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