Municipal Employees Retirement System of Michigan cut its stake in TE Connectivity Ltd. (NYSE:TEL) by 8.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,430 shares of the electronics maker’s stock after selling 2,260 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in TE Connectivity were worth $1,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the company. Duncker Streett & Co. Inc. lifted its holdings in TE Connectivity by 17.8% in the second quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after acquiring an additional 200 shares during the last quarter. AllSquare Wealth Management LLC acquired a new position in TE Connectivity in the third quarter valued at approximately $113,000. Northwestern Mutual Wealth Management Co. lifted its holdings in TE Connectivity by 38.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock valued at $109,000 after acquiring an additional 384 shares during the last quarter. Acrospire Investment Management LLC acquired a new position in TE Connectivity in the second quarter valued at approximately $126,000. Finally, Harfst & Associates Inc. lifted its holdings in TE Connectivity by 46.2% in the second quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock valued at $135,000 after acquiring an additional 544 shares during the last quarter. Institutional investors and hedge funds own 90.07% of the company’s stock.
In related news, SVP Mario Calastri sold 8,539 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $93.27, for a total transaction of $796,432.53. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas J. Lynch sold 186,033 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $79.29, for a total transaction of $14,750,556.57. Following the completion of the sale, the insider now owns 298,851 shares of the company’s stock, valued at approximately $23,695,895.79. The disclosure for this sale can be found here. Insiders sold 521,346 shares of company stock worth $44,465,473 in the last three months. 1.49% of the stock is currently owned by corporate insiders.
A number of research analysts recently commented on TEL shares. Stifel Nicolaus reiterated a “buy” rating and issued a $98.00 price objective on shares of TE Connectivity in a report on Friday, November 3rd. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Monday, September 11th. Royal Bank Of Canada decreased their price objective on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd. Robert W. Baird started coverage on TE Connectivity in a report on Friday, November 3rd. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, Wells Fargo & Company started coverage on TE Connectivity in a research note on Friday, November 10th. They set an “outperform” rating and a $105.00 price target on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $150.00.
Shares of TE Connectivity Ltd. (TEL) traded up $0.46 during midday trading on Wednesday, hitting $93.82. The stock had a trading volume of 1,407,100 shares, compared to its average volume of 1,416,310. The firm has a market capitalization of $32,991.94, a PE ratio of 19.33, a P/E/G ratio of 1.80 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.54. TE Connectivity Ltd. has a twelve month low of $66.14 and a twelve month high of $93.83.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.22 earnings per share. sell-side analysts expect that TE Connectivity Ltd. will post 5.27 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.71%. The ex-dividend date is Wednesday, November 22nd. TE Connectivity’s dividend payout ratio (DPR) 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.
Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL).
Receive News & Ratings for TE Connectivity Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.