Victory Capital Management Inc. raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 18.7% during the second quarter, Holdings Channel reports. The firm owned 7,399 shares of the company’s stock after buying an additional 1,165 shares during the period. Victory Capital Management Inc.’s holdings in TE Connectivity were worth $423,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Commonwealth Equity Services Inc boosted its stake in shares of TE Connectivity by 16.7% in the first quarter. Commonwealth Equity Services Inc now owns 12,030 shares of the company’s stock valued at $745,000 after buying an additional 1,722 shares during the period. Virginia Retirement System acquired a new stake in shares of TE Connectivity during the first quarter valued at approximately $388,000. IFP Advisors Inc boosted its stake in shares of TE Connectivity by 42.3% in the first quarter. IFP Advisors Inc now owns 4,004 shares of the company’s stock valued at $248,000 after buying an additional 1,191 shares during the period. CIBC World Markets Inc. acquired a new stake in shares of TE Connectivity during the first quarter valued at approximately $268,000. Finally, Franklin Resources Inc. boosted its stake in shares of TE Connectivity by 3.0% in the first quarter. Franklin Resources Inc. now owns 1,675,728 shares of the company’s stock valued at $103,761,000 after buying an additional 49,475 shares during the period. 91.55% of the stock is currently owned by hedge funds and other institutional investors.
TE Connectivity Ltd. (NYSE:TEL) traded up 1.69% on Friday, hitting $64.38. 1,601,957 shares of the stock traded hands. TE Connectivity Ltd. has a 52 week low of $51.70 and a 52 week high of $67.99. The firm has a market capitalization of $22.89 billion, a PE ratio of 9.40 and a beta of 1.39. The stock has a 50 day moving average of $62.72 and a 200 day moving average of $60.70.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. The business earned $3.12 billion during the quarter, compared to analysts’ expectations of $3.13 billion. TE Connectivity had a net margin of 21.97% and a return on equity of 16.72%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. Equities research analysts anticipate that TE Connectivity Ltd. will post $4.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Wednesday, August 24th. TE Connectivity’s payout ratio is 21.67%.
TEL has been the topic of several analyst reports. Deutsche Bank AG reissued a “hold” rating and set a $65.00 price target on shares of TE Connectivity in a research report on Wednesday, June 15th. Royal Bank Of Canada reissued a “buy” rating and set a $66.00 price target on shares of TE Connectivity in a research report on Friday, June 17th. RBC Capital Markets restated an “outperform” rating and set a $65.00 price objective (up from $63.00) on shares of TE Connectivity in a research note on Thursday, July 21st. Morgan Stanley restated a “buy” rating on shares of TE Connectivity in a research note on Tuesday, September 20th. Finally, Zacks Investment Research lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $64.33.
In other TE Connectivity news, COO Joseph B. Donahue sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $63.78, for a total value of $637,800.00. Following the completion of the sale, the chief operating officer now directly owns 38,825 shares in the company, valued at $2,476,258.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas J. Lynch sold 123,635 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $62.78, for a total transaction of $7,761,805.30. Following the completion of the sale, the chief executive officer now owns 507,776 shares of the company’s stock, valued at $31,878,177.28. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by company insiders.
About TE Connectivity
TE Connectivity Ltd. (TE Connectivity) is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates its business through three segments: Transportation Solutions, which offers various products, including terminals and connector systems and components, relays, circuit protection devices, sensors, and application tooling, among others; Industrial Solutions, which include terminals and connector systems and components, heat shrink tubing, relays, wire and cable, and Communications Solutions, which include terminals and connector systems and components, circuit protection devices, antennas, relays and heat shrink tubing.
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