SRB Corp Acquires 1,128 Shares of TE Connectivity Ltd (NYSE:TEL)

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SRB Corp boosted its holdings in TE Connectivity Ltd (NYSE:TEL) by 15.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,673 shares of the electronics maker’s stock after acquiring an additional 1,128 shares during the quarter. SRB Corp’s holdings in TE Connectivity were worth $700,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc grew its stake in TE Connectivity by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 24,999,009 shares of the electronics maker’s stock valued at $2,198,164,000 after buying an additional 340,661 shares in the last quarter. FMR LLC grew its stake in TE Connectivity by 23.5% in the 4th quarter. FMR LLC now owns 6,558,221 shares of the electronics maker’s stock valued at $495,997,000 after buying an additional 1,248,798 shares in the last quarter. Geode Capital Management LLC grew its stake in TE Connectivity by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 3,810,379 shares of the electronics maker’s stock valued at $287,667,000 after buying an additional 188,148 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in TE Connectivity by 1.3% in the 1st quarter. Artisan Partners Limited Partnership now owns 3,740,958 shares of the electronics maker’s stock valued at $302,082,000 after buying an additional 48,088 shares in the last quarter. Finally, Norges Bank purchased a new position in TE Connectivity in the 4th quarter valued at approximately $280,716,000. 91.34% of the stock is currently owned by institutional investors and hedge funds.

TEL has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. ValuEngine raised shares of TE Connectivity from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. Finally, HC Wainwright reissued a “sell” rating on shares of TE Connectivity in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $94.43.

In related news, insider Terrence R. Curtin sold 128,750 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $94.20, for a total transaction of $12,128,250.00. Following the transaction, the insider now owns 213,719 shares in the company, valued at $20,132,329.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin N. Rock sold 26,803 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $95.04, for a total transaction of $2,547,357.12. Following the sale, the insider now directly owns 67,361 shares of the company’s stock, valued at $6,401,989.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 299,383 shares of company stock worth $28,368,769. Insiders own 0.80% of the company’s stock.

Shares of NYSE TEL traded down $1.67 during mid-day trading on Friday, reaching $90.44. 89,031 shares of the company were exchanged, compared to its average volume of 1,070,071. TE Connectivity Ltd has a 52 week low of $69.84 and a 52 week high of $99.52. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.90 and a current ratio of 1.41. The company has a market capitalization of $30.52 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.59 and a beta of 1.15.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.15. TE Connectivity had a net margin of 20.17% and a return on equity of 18.78%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter in the previous year, the company earned $1.42 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, analysts forecast that TE Connectivity Ltd will post 5.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, May 23rd. This is an increase from TE Connectivity’s previous quarterly dividend of $0.44. TE Connectivity’s dividend payout ratio is currently 32.80%.

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About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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