Neuburgh Advisers LLC Reduces Position in TE Connectivity Ltd (NYSE:TEL)

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Neuburgh Advisers LLC decreased its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 4.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,018 shares of the electronics maker’s stock after selling 308 shares during the quarter. Neuburgh Advisers LLC’s holdings in TE Connectivity were worth $672,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rivulet Capital LLC purchased a new stake in TE Connectivity during the 1st quarter valued at about $69,308,000. Rockefeller Capital Management L.P. boosted its stake in TE Connectivity by 854,554.5% during the first quarter. Rockefeller Capital Management L.P. now owns 846,108 shares of the electronics maker’s stock worth $68,324,000 after buying an additional 846,009 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in TE Connectivity by 275.0% during the first quarter. Neuberger Berman Group LLC now owns 1,052,801 shares of the electronics maker’s stock worth $85,013,000 after buying an additional 772,017 shares in the last quarter. American Century Companies Inc. increased its holdings in TE Connectivity by 19.4% in the 1st quarter. American Century Companies Inc. now owns 3,172,350 shares of the electronics maker’s stock valued at $256,167,000 after buying an additional 515,513 shares during the period. Finally, Marathon Asset Management LLP increased its holdings in TE Connectivity by 97.4% in the 2nd quarter. Marathon Asset Management LLP now owns 750,622 shares of the electronics maker’s stock valued at $71,893,000 after buying an additional 370,408 shares during the period. Institutional investors and hedge funds own 90.56% of the company’s stock.

A number of equities analysts have recently commented on TEL shares. Longbow Research downgraded shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 price objective for the company. in a report on Monday, June 17th. Morgan Stanley lowered their price objective on TE Connectivity from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Goldman Sachs Group upgraded TE Connectivity from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $105.00 in a research report on Thursday, June 20th. Cross Research cut TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Co downgraded shares of TE Connectivity from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $92.21.

Shares of NYSE:TEL traded down $0.28 during midday trading on Wednesday, hitting $95.48. 66,737 shares of the stock traded hands, compared to its average volume of 1,252,668. The stock has a market capitalization of $31.94 billion, a PE ratio of 17.02, a P/E/G ratio of 1.61 and a beta of 1.21. The business’s 50 day moving average is $91.01 and its two-hundred day moving average is $89.24. The company has a quick ratio of 0.94, a current ratio of 1.47 and a debt-to-equity ratio of 0.32. TE Connectivity Ltd has a one year low of $69.84 and a one year high of $97.99.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.08. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.43 billion. TE Connectivity had a net margin of 22.94% and a return on equity of 18.33%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.43 earnings per share. As a group, sell-side analysts forecast that TE Connectivity Ltd will post 5.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.93%. TE Connectivity’s payout ratio is 32.80%.

In other TE Connectivity news, insider Steven T. Merkt sold 65,650 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $93.55, for a total value of $6,141,557.50. Following the completion of the sale, the insider now owns 89,854 shares in the company, valued at approximately $8,405,841.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Lynch sold 124,400 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $93.41, for a total value of $11,620,204.00. Following the sale, the director now directly owns 290,316 shares in the company, valued at $27,118,417.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,500 shares of company stock worth $23,737,285. 0.80% of the stock is owned by corporate insiders.

TE Connectivity Company Profile

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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