People s United Financial Inc. reduced its position in shares of TE Connectivity Ltd (NYSE:TEL) by 38.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,192 shares of the electronics maker’s stock after selling 8,721 shares during the period. People s United Financial Inc.’s holdings in TE Connectivity were worth $17,384,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. HL Financial Services LLC increased its holdings in shares of TE Connectivity by 0.6% in the first quarter. HL Financial Services LLC now owns 1,414,538 shares of the electronics maker’s stock worth $141,312,000 after purchasing an additional 7,890 shares during the period. OLD Dominion Capital Management Inc. bought a new position in shares of TE Connectivity in the first quarter worth $337,000. FDx Advisors Inc. increased its holdings in shares of TE Connectivity by 9.3% in the first quarter. FDx Advisors Inc. now owns 39,485 shares of the electronics maker’s stock worth $3,945,000 after purchasing an additional 3,374 shares during the period. Wells Fargo & Company MN increased its holdings in shares of TE Connectivity by 4.3% in the first quarter. Wells Fargo & Company MN now owns 4,069,698 shares of the electronics maker’s stock worth $406,562,000 after purchasing an additional 169,057 shares during the period. Finally, Howland Capital Management LLC increased its holdings in shares of TE Connectivity by 2.3% in the first quarter. Howland Capital Management LLC now owns 272,199 shares of the electronics maker’s stock worth $27,193,000 after purchasing an additional 6,102 shares during the period. 90.59% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on TEL. Zacks Investment Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Wells Fargo & Co decreased their price target on shares of TE Connectivity from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, July 17th. Morgan Stanley decreased their price target on shares of TE Connectivity from $117.00 to $116.00 and set an “overweight” rating on the stock in a report on Thursday, July 26th. Finally, ValuEngine cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. TE Connectivity presently has a consensus rating of “Buy” and an average price target of $112.91.
TEL opened at $92.95 on Friday. The firm has a market capitalization of $32.11 billion, a P/E ratio of 19.24, a PEG ratio of 1.51 and a beta of 1.04. The company has a current ratio of 1.47, a quick ratio of 0.98 and a debt-to-equity ratio of 0.35. TE Connectivity Ltd has a 52 week low of $77.15 and a 52 week high of $108.23.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 25th. The electronics maker reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.06. The business had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.69 billion. TE Connectivity had a return on equity of 20.33% and a net margin of 9.26%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 earnings per share. sell-side analysts anticipate that TE Connectivity Ltd will post 5.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 24th will be paid a $0.44 dividend. The ex-dividend date is Thursday, August 23rd. This represents a $1.76 dividend on an annualized basis and a yield of 1.89%. TE Connectivity’s dividend payout ratio is presently 36.44%.
In related news, SVP Tim Murphy sold 17,100 shares of the stock in a transaction on Monday, May 21st. The stock was sold at an average price of $96.20, for a total value of $1,645,020.00. Following the transaction, the senior vice president now owns 14,652 shares of the company’s stock, valued at $1,409,522.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.
TE Connectivity Profile
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia?Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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