TE Connectivity Ltd. (TEL) Shares Bought by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. boosted its position in TE Connectivity Ltd. (NYSE:TEL) by 943.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 456,944 shares of the electronics maker’s stock after purchasing an additional 413,150 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.13% of TE Connectivity worth $37,955,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TEL. Northwestern Mutual Wealth Management Co. lifted its position in TE Connectivity by 38.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock worth $109,000 after purchasing an additional 384 shares during the period. AllSquare Wealth Management LLC acquired a new stake in shares of TE Connectivity during the 3rd quarter valued at $113,000. Acrospire Investment Management LLC acquired a new stake in shares of TE Connectivity during the 2nd quarter valued at $126,000. Harfst & Associates Inc. lifted its position in shares of TE Connectivity by 46.2% during the 2nd quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock valued at $135,000 after acquiring an additional 544 shares during the last quarter. Finally, Robecosam AG acquired a new stake in shares of TE Connectivity during the 3rd quarter valued at $155,000. Hedge funds and other institutional investors own 90.22% of the company’s stock.
In other news, insider Thomas J. Lynch sold 130,616 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $83.37, for a total value of $10,889,455.92. Following the transaction, the insider now directly owns 429,499 shares of the company’s stock, valued at $35,807,331.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas J. Lynch sold 130,617 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $91.29, for a total transaction of $11,924,025.93. Following the completion of the transaction, the insider now directly owns 429,500 shares in the company, valued at $39,209,055. The disclosure for this sale can be found here. Over the last three months, insiders have sold 759,805 shares of company stock worth $69,542,539. Company insiders own 1.49% of the company’s stock.
Shares of TE Connectivity Ltd. (NYSE TEL) traded down $0.86 during trading hours on Tuesday, reaching $92.87. 1,624,100 shares of the company’s stock traded hands, compared to its average volume of 1,435,791. 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 Ltd. has a 52 week low of $66.20 and a 52 week high of $96.68. The firm has a market cap of $32,958.95, a P/E ratio of 19.41, a P/E/G ratio of 1.63 and a beta of 1.08.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the previous year, the business earned $1.22 EPS. The company’s revenue was up 3.7% on a year-over-year basis. analysts expect that TE Connectivity Ltd. will post 5.27 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, November 22nd. TE Connectivity’s dividend payout ratio (DPR) is currently 33.97%.
A number of brokerages have recently commented on TEL. Royal Bank Of Canada cut their price objective on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Zacks Investment Research downgraded TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. Morgan Stanley cut their price objective on TE Connectivity from GBX 350 ($4.71) to GBX 269 ($3.62) and set an “overweight” rating for the company in a research report on Tuesday, August 8th. Cowen reiterated a “buy” rating and set a $95.00 price objective on shares of TE Connectivity in a research report on Thursday, August 10th. Finally, Citigroup increased their price objective on TE Connectivity from $92.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. TE Connectivity has an average rating of “Buy” and an average price target of $150.00.
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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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