Hotchkis & Wiley Capital Management LLC Has $83.41 Million Holdings in TE Connectivity Ltd. (TEL)
Hotchkis & Wiley Capital Management LLC trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 56.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,060,084 shares of the electronics maker’s stock after selling 1,364,000 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.30% of TE Connectivity worth $83,407,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in TE Connectivity by 3.6% in the first quarter. Vanguard Group Inc. now owns 22,790,216 shares of the electronics maker’s stock worth $1,699,010,000 after purchasing an additional 796,516 shares in the last quarter. BlackRock Inc. boosted its stake in TE Connectivity by 1,777.1% in the first quarter. BlackRock Inc. now owns 17,203,935 shares of the electronics maker’s stock worth $1,282,551,000 after purchasing an additional 16,287,414 shares in the last quarter. State Street Corp boosted its stake in TE Connectivity by 3.6% in the first quarter. State Street Corp now owns 13,850,157 shares of the electronics maker’s stock worth $1,032,534,000 after purchasing an additional 486,340 shares in the last quarter. Fiduciary Management Inc. WI boosted its stake in 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 purchasing an additional 331,080 shares in the last quarter. Finally, FMR LLC boosted its stake in TE Connectivity by 7.2% in the first quarter. FMR LLC now owns 4,867,718 shares of the electronics maker’s stock worth $362,888,000 after purchasing an additional 325,039 shares in the last quarter. Hedge funds and other institutional investors own 90.10% of the company’s stock.
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TEL has been the topic of a number of recent analyst reports. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Friday, June 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $86.00 price objective on shares of TE Connectivity in a research note on Tuesday, June 6th. Finally, BidaskClub lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $83.43.
Shares of TE Connectivity Ltd. (TEL) traded up 1.07% during trading on Friday, hitting $82.15. The stock had a trading volume of 1,633,504 shares. TE Connectivity Ltd. has a one year low of $60.59 and a one year high of $85.20. The stock has a 50 day moving average price of $79.62 and a 200-day moving average price of $77.57. The stock has a market capitalization of $29.03 billion, a price-to-earnings ratio of 17.44 and a beta of 1.05.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data 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 business had revenue of $3.37 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS. On average, equities research analysts predict that TE Connectivity Ltd. will post $4.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 1.95%. TE Connectivity’s dividend payout ratio is currently 33.97%.
In related news, insider Thomas J. Lynch sold 186,033 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $79.75, for a total transaction of $14,836,131.75. Following the sale, the insider now owns 504,884 shares in the company, valued at approximately $40,264,499. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mario Calastri sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $80.23, for a total value of $481,380.00. Following the sale, the senior vice president now owns 23,078 shares in the company, valued at approximately $1,851,547.94. The disclosure for this sale can be found here. Insiders have sold a total of 749,165 shares of company stock worth $59,522,187 in the last 90 days. 1.30% 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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