State of Wisconsin Investment Board purchased a new position in TE Connectivity Ltd. (NYSE:TEL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 79,700 shares of the company’s stock, valued at approximately $5,131,000.
Other hedge funds also recently made changes to their positions in the company. Boston Partners boosted its stake in TE Connectivity by 161.8% in the second quarter. Boston Partners now owns 8,963,462 shares of the company’s stock valued at $511,903,000 after buying an additional 5,539,080 shares in the last quarter. Factory Mutual Insurance Co. acquired a new stake in TE Connectivity during the third quarter valued at approximately $59,141,000. River Road Asset Management LLC acquired a new stake in TE Connectivity during the second quarter valued at approximately $48,729,000. Alliancebernstein L.P. boosted its stake in TE Connectivity by 132.0% in the second quarter. Alliancebernstein L.P. now owns 1,109,587 shares of the company’s stock valued at $63,369,000 after buying an additional 631,412 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in TE Connectivity by 57.7% in the second quarter. Raymond James & Associates now owns 1,304,428 shares of the company’s stock valued at $74,496,000 after buying an additional 477,278 shares in the last quarter. Institutional investors and hedge funds own 91.40% of the company’s stock.
Shares of TE Connectivity Ltd. (NYSE:TEL) traded up 0.97% during trading on Friday, reaching $68.00. The company’s stock had a trading volume of 434,483 shares. The company’s 50-day moving average is $64.08 and its 200-day moving average is $61.53. TE Connectivity Ltd. has a 12 month low of $51.70 and a 12 month high of $68.00. The company has a market capitalization of $24.16 billion, a P/E ratio of 12.49 and a beta of 1.20.
TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.62 billion. TE Connectivity had a return on equity of 18.39% and a net margin of 16.42%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 earnings per share. On average, analysts forecast that TE Connectivity Ltd. will post $4.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 25th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Tuesday, November 22nd. TE Connectivity’s payout ratio is 27.01%.
TEL has been the topic of several analyst reports. Zacks Investment Research cut TE Connectivity from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. Morgan Stanley restated a “buy” rating on shares of TE Connectivity in a research report on Tuesday, September 20th. RBC Capital Markets restated an “outperform” rating and issued a $66.00 target price (up from $65.00) on shares of TE Connectivity in a research report on Thursday, November 3rd. Finally, Royal Bank Of Canada raised their target price on TE Connectivity from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $65.67.
In other TE Connectivity news, CEO Thomas J. Lynch sold 123,635 shares of TE Connectivity stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $62.78, for a total transaction of $7,761,805.30. Following the sale, the chief executive officer now directly owns 507,776 shares of the company’s stock, valued at $31,878,177.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Terrence R. Curtin sold 1,184 shares of TE Connectivity stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $66.53, for a total value of $78,771.52. Following the sale, the insider now directly owns 42,379 shares in the company, valued at $2,819,474.87. The disclosure for this sale can be found here. Company insiders own 1.49% of the company’s stock.
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