TE Connectivity Ltd. (TEL) Position Raised by Stratos Wealth Partners LTD.
Stratos Wealth Partners LTD. increased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 22.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,850 shares of the electronics maker’s stock after buying an additional 712 shares during the period. Stratos Wealth Partners LTD.’s holdings in TE Connectivity were worth $320,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Moors & Cabot Inc. raised its position in shares of TE Connectivity by 0.8% in the second quarter. Moors & Cabot Inc. now owns 2,813 shares of the electronics maker’s stock worth $222,000 after buying an additional 21 shares in the last quarter. Pictet North America Advisors SA raised its position in shares of TE Connectivity by 0.6% in the second quarter. Pictet North America Advisors SA now owns 3,725 shares of the electronics maker’s stock worth $293,000 after buying an additional 24 shares in the last quarter. Financial Architects Inc raised its position in shares of TE Connectivity by 2.0% in the second quarter. Financial Architects Inc now owns 2,885 shares of the electronics maker’s stock worth $227,000 after buying an additional 57 shares in the last quarter. AMG Funds LLC raised its position in shares of TE Connectivity by 0.3% in the second quarter. AMG Funds LLC now owns 26,142 shares of the electronics maker’s stock worth $2,057,000 after buying an additional 67 shares in the last quarter. Finally, Veritable L.P. raised its position in shares of TE Connectivity by 1.1% in the second quarter. Veritable L.P. now owns 8,027 shares of the electronics maker’s stock worth $632,000 after buying an additional 87 shares in the last quarter. Institutional investors own 89.58% of the company’s stock.
In related news, CFO Heath A. Mitts sold 10,736 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $93.14, for a total value of $999,951.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas J. Lynch sold 130,616 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $83.37, for a total value of $10,889,455.92. Following the completion of the sale, the insider now directly owns 429,499 shares in the company, valued at $35,807,331.63. The disclosure for this sale can be found here. Insiders have sold 679,009 shares of company stock worth $59,194,715 over the last ninety days. Insiders own 1.49% of the company’s stock.
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A number of brokerages recently issued reports on TEL. Wells Fargo & Company assumed coverage on TE Connectivity in a research report on Friday, November 10th. They issued an “outperform” rating and a $105.00 price objective on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $98.00 target price on shares of TE Connectivity in a research note on Friday, November 3rd. Royal Bank Of Canada reduced their target price on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. SunTrust Banks, Inc. increased their target price on TE Connectivity to $90.00 and gave the company a “hold” rating in a research note on Thursday, November 2nd. They noted that the move was a valuation call. Finally, Citigroup Inc. increased their target price on TE Connectivity from $92.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $150.00.
TE Connectivity Ltd. (NYSE:TEL) opened at $95.04 on Monday. TE Connectivity Ltd. has a 12 month low of $66.14 and a 12 month high of $95.37. The stock has a market capitalization of $33,419.60, a PE ratio of 19.68, a PEG ratio of 1.84 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.54.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.09. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. sell-side analysts anticipate that TE Connectivity Ltd. will post 5.27 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.68%. TE Connectivity’s dividend payout ratio (DPR) is currently 33.97%.
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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