Madison Investment Holdings Inc. trimmed its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 28.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,439 shares of the electronics maker’s stock after selling 171,721 shares during the period. Madison Investment Holdings Inc.’s holdings in TE Connectivity were worth $39,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of TEL. Bamco Inc. NY bought a new position in TE Connectivity during the 1st quarter worth about $108,000. Institutional & Family Asset Management LLC bought a new stake in shares of TE Connectivity in the 1st quarter valued at about $196,000. Commerce Bank bought a new stake in shares of TE Connectivity in the 1st quarter valued at about $207,000. Aspiriant LLC bought a new stake in shares of TE Connectivity in the 1st quarter valued at about $208,000. Finally, Lido Advisors LLC bought a new stake in shares of TE Connectivity in the 1st quarter valued at about $212,000. Institutional investors own 89.37% of the company’s stock.
TEL has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of TE Connectivity from $111.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, April 26th. ValuEngine cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. Zacks Investment Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Finally, Wells Fargo & Co lowered 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $112.91.
TEL stock opened at $93.77 on Tuesday. The company has a market capitalization of $32.39 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.52 and a beta of 1.04. The company has a quick ratio of 0.98, a current ratio of 1.47 and a debt-to-equity ratio of 0.35. TE Connectivity Ltd has a 52 week low of $77.16 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, topping analysts’ consensus estimates of $1.37 by $0.06. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.69 billion. TE Connectivity had a net margin of 9.26% and a return on equity of 20.33%. TE Connectivity’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the business earned $1.24 EPS. equities research analysts forecast that TE Connectivity Ltd will post 5.58 EPS for the current fiscal year.
The business 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. This represents a $1.76 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Thursday, August 23rd. TE Connectivity’s dividend payout ratio (DPR) is presently 36.44%.
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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