Thrivent Financial for Lutherans increased its position in TE Connectivity Ltd (NYSE:TEL) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,470 shares of the company’s stock after buying an additional 680 shares during the period. Thrivent Financial for Lutherans’ holdings in TE Connectivity were worth $864,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of TEL. State Street Corp boosted its position in TE Connectivity by 2.8% in the fourth quarter. State Street Corp now owns 13,363,817 shares of the company’s stock worth $925,848,000 after buying an additional 364,644 shares during the period. Price T Rowe Associates Inc. MD boosted its position in TE Connectivity by 24.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,936,361 shares of the company’s stock worth $768,463,000 after buying an additional 2,348,403 shares during the period. Boston Partners boosted its position in TE Connectivity by 21.5% in the third quarter. Boston Partners now owns 10,886,199 shares of the company’s stock worth $700,854,000 after buying an additional 1,922,737 shares during the period. Longview Partners Guernsey LTD boosted its position in TE Connectivity by 2.0% in the third quarter. Longview Partners Guernsey LTD now owns 10,481,429 shares of the company’s stock worth $674,794,000 after buying an additional 205,386 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in TE Connectivity by 1.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 6,890,508 shares of the company’s stock worth $443,611,000 after buying an additional 104,187 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.
TE Connectivity Ltd (NYSE:TEL) opened at 74.32 on Friday. TE Connectivity Ltd has a 12-month low of $54.54 and a 12-month high of $76.77. The company has a market cap of $26.41 billion, a price-to-earnings ratio of 13.00 and a beta of 1.16. The firm’s 50-day moving average is $75.09 and its 200 day moving average is $68.73.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 25th. The company reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.15. TE Connectivity had a return on equity of 19.26% and a net margin of 16.56%. The company earned $3.10 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. TE Connectivity’s revenue was up 8.1% on a year-over-year basis. On average, equities analysts expect that TE Connectivity Ltd will post $4.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 24th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Wednesday, February 22nd. TE Connectivity’s payout ratio is 25.92%.
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A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Tuesday, March 14th. Longbow Research upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating in a report on Thursday, January 12th. Cowen and Company assumed coverage on shares of TE Connectivity in a report on Tuesday, March 21st. They issued an “outperform” rating and a $90.00 price objective for the company. Goldman Sachs Group Inc lowered shares of TE Connectivity from a “neutral” rating to a “sell” rating and raised their price objective for the company from $63.00 to $64.00 in a report on Wednesday, January 4th. Finally, Stifel Nicolaus raised their price objective on shares of TE Connectivity from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, January 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $75.00.
In other news, CEO Thomas J. Lynch sold 123,633 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $68.87, for a total transaction of $8,514,604.71. Following the completion of the transaction, the chief executive officer now owns 462,388 shares of the company’s stock, valued at $31,844,661.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James O’toole sold 32,688 shares of the business’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $73.40, for a total value of $2,399,299.20. Following the transaction, the insider now directly owns 32,688 shares of the company’s stock, valued at approximately $2,399,299.20. The disclosure for this sale can be found here. Insiders have sold 588,013 shares of company stock valued at $43,308,574 in the last three months. 1.49% of the stock is owned by insiders.
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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