Artisan Partners Limited Partnership trimmed its position in TE Connectivity Ltd. (NYSE:TEL) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,268,540 shares of the electronics maker’s stock after selling 496,072 shares during the period. TE Connectivity comprises about 1.5% of Artisan Partners Limited Partnership’s investment portfolio, making the stock its 14th largest position. Artisan Partners Limited Partnership owned about 2.91% of TE Connectivity worth $807,929,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Guardian Life Insurance Co. of America lifted its holdings in TE Connectivity by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock valued at $102,000 after purchasing an additional 9 shares in the last quarter. Pictet North America Advisors SA lifted its holdings in TE Connectivity by 0.6% in the 2nd quarter. Pictet North America Advisors SA now owns 3,725 shares of the electronics maker’s stock valued at $293,000 after purchasing an additional 24 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in TE Connectivity by 0.5% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 6,636 shares of the electronics maker’s stock valued at $495,000 after purchasing an additional 34 shares in the last quarter. Cleararc Capital Inc. lifted its holdings in TE Connectivity by 0.4% in the 1st quarter. Cleararc Capital Inc. now owns 8,692 shares of the electronics maker’s stock valued at $648,000 after purchasing an additional 37 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in TE Connectivity by 2.2% in the 1st quarter. Parallel Advisors LLC now owns 1,996 shares of the electronics maker’s stock valued at $150,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 90.10% of the company’s stock.
A number of research analysts have issued reports on TEL shares. Zacks Investment Research lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Cowen and Company restated an “outperform” rating and issued a $95.00 target price (up from $90.00) on shares of TE Connectivity in a report on Monday, June 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $86.00 target price on shares of TE Connectivity in a report on Tuesday, June 6th. Finally, BidaskClub lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. TE Connectivity presently has an average rating of “Hold” and a consensus price target of $83.43.
In other TE Connectivity news, COO Joseph B. Donahue sold 6,300 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $80.70, for a total transaction of $508,410.00. Following the completion of the sale, the chief operating officer now directly owns 34,609 shares in the company, valued at approximately $2,792,946.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mario Calastri sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $80.23, for a total value of $481,380.00. Following the sale, the senior vice president now owns 23,078 shares of the company’s stock, valued at $1,851,547.94. The disclosure for this sale can be found here. Insiders have sold a total of 749,165 shares of company stock valued at $59,522,187 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.
TE Connectivity Ltd. (NYSE TEL) traded up 1.07% on Friday, hitting $82.15. 1,633,504 shares of the stock were exchanged. The company has a market cap of $29.03 billion, a PE ratio of 17.44 and a beta of 1.05. TE Connectivity Ltd. has a 52 week low of $60.59 and a 52 week high of $85.20. The company’s 50-day moving average is $79.62 and its 200-day moving average is $77.57.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.07. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the company posted $1.08 EPS. TE Connectivity’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts predict that TE Connectivity Ltd. will post $4.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 1.95%. TE Connectivity’s payout ratio is presently 33.97%.
TE Connectivity Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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