Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of TE Connectivity Ltd (NYSE:TEL) by 126.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,300 shares of the electronics maker’s stock after buying an additional 133,588 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.07% of TE Connectivity worth $21,551,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in TE Connectivity by 0.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 142,091 shares of the electronics maker’s stock valued at $12,797,000 after purchasing an additional 619 shares during the last quarter. Cornercap Investment Counsel Inc. increased its stake in TE Connectivity by 1.6% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 41,495 shares of the electronics maker’s stock valued at $4,145,000 after buying an additional 670 shares during the period. Commonwealth Equity Services LLC increased its stake in TE Connectivity by 6.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 11,385 shares of the electronics maker’s stock valued at $1,137,000 after buying an additional 688 shares during the period. First Citizens Bank & Trust Co. increased its stake in TE Connectivity by 2.7% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 26,851 shares of the electronics maker’s stock valued at $2,418,000 after buying an additional 705 shares during the period. Finally, Summit Trail Advisors LLC increased its stake in TE Connectivity by 1.7% in the 1st quarter. Summit Trail Advisors LLC now owns 43,395 shares of the electronics maker’s stock valued at $2,504,000 after buying an additional 732 shares during the period. Hedge funds and other institutional investors own 87.85% of the company’s stock.
Shares of TEL opened at $90.61 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.47. The firm has a market capitalization of $31.95 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.50 and a beta of 1.02. TE Connectivity Ltd has a 1 year low of $78.38 and a 1 year high of $108.23.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 25th. The electronics maker reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.06. TE Connectivity had a net margin of 9.26% and a return on equity of 20.33%. The business 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 company posted $1.24 EPS. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. equities research analysts expect that TE Connectivity Ltd will post 5.59 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Friday, August 24th will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, August 23rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.94%. TE Connectivity’s dividend payout ratio (DPR) is presently 36.44%.
TEL has been the topic of several recent research reports. Zacks Investment Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. Wells Fargo & Co dropped their price objective on shares of TE Connectivity from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 17th. Finally, Morgan Stanley dropped their price objective on shares of TE Connectivity from $117.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $112.91.
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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