Todd Asset Management LLC lowered its stake in TE Connectivity Ltd (NYSE:TEL) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 394,899 shares of the electronics maker’s stock after selling 1,895 shares during the quarter. TE Connectivity accounts for 1.0% of Todd Asset Management LLC’s portfolio, making the stock its 21st biggest position. Todd Asset Management LLC’s holdings in TE Connectivity were worth $35,564,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Bamco Inc. NY bought a new position in shares of TE Connectivity during the first quarter valued at approximately $108,000. Institutional & Family Asset Management LLC bought a new position in shares of TE Connectivity during the first quarter valued at approximately $196,000. Commerce Bank bought a new position in shares of TE Connectivity during the first quarter valued at approximately $207,000. Aspiriant LLC bought a new position in shares of TE Connectivity during the first quarter valued at approximately $208,000. Finally, Lido Advisors LLC bought a new position in shares of TE Connectivity during the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 90.59% of the company’s stock.
A number of equities analysts recently commented on TEL shares. Zacks Investment Research downgraded TE Connectivity from a “buy” rating to a “hold” rating in a report on Saturday, July 7th. Morgan Stanley upped their price target on TE Connectivity from $111.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, April 26th. ValuEngine cut TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, May 1st. Finally, Wells Fargo & Co reduced their price target on TE Connectivity from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. TE Connectivity presently has a consensus rating of “Buy” and an average target price of $112.91.
Shares of TEL stock opened at $93.82 on Monday. TE Connectivity Ltd has a twelve month low of $77.15 and a twelve month high of $108.23. The firm has a market capitalization of $32.11 billion, a P/E ratio of 19.42, a PEG ratio of 1.51 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.47.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 25th. The electronics maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. TE Connectivity had a return on equity of 20.33% and a net margin of 9.26%. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the prior year, the firm posted $1.24 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. equities analysts anticipate that TE Connectivity Ltd will post 5.58 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Friday, August 24th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.88%. TE Connectivity’s dividend payout ratio is currently 36.44%.
TE Connectivity Company 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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