SOL Capital Management CO cut its stake in Tyco International Ltd. (NYSE:TYC) by 7.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 11,539 shares of the company’s stock after selling 936 shares during the period. SOL Capital Management CO’s holdings in Tyco International were worth $492,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Quadrant L P CA bought a new stake in Tyco International during the second quarter valued at $124,000. Berkshire Asset Management LLC PA boosted its stake in Tyco International by 6.6% in the second quarter. Berkshire Asset Management LLC PA now owns 6,041 shares of the company’s stock valued at $257,000 after buying an additional 372 shares during the period. MAI Capital Management bought a new stake in Tyco International during the second quarter valued at $282,000. Cleararc Capital Inc. boosted its stake in Tyco International by 0.3% in the first quarter. Cleararc Capital Inc. now owns 10,363 shares of the company’s stock valued at $380,000 after buying an additional 36 shares during the period. Finally, Strs Ohio boosted its stake in Tyco International by 4.4% in the second quarter. Strs Ohio now owns 10,698 shares of the company’s stock valued at $455,000 after buying an additional 446 shares during the period. Hedge funds and other institutional investors own 89.97% of the company’s stock.
Tyco International Ltd. (NYSE:TYC) remained flat at $45.59 during trading on Friday. Tyco International Ltd. has a 12 month low of $28.94 and a 12 month high of $46.19. The company has a 50 day moving average price of $44.69 and a 200-day moving average price of $40.50.
Tyco International (NYSE:TYC) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. Tyco International had a return on equity of 20.59% and a net margin of 5.45%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the company earned $0.59 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that Tyco International Ltd. will post $2.05 earnings per share for the current year.
Several research firms recently weighed in on TYC. Credit Suisse Group AG reiterated a “hold” rating on shares of Tyco International in a report on Saturday, July 9th. Zacks Investment Research upgraded shares of Tyco International from a “sell” rating to a “hold” rating and set a $49.00 target price on the stock in a report on Wednesday, July 13th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $40.82.
In other news, Director Edward D. Breen sold 353,944 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $44.40, for a total transaction of $15,715,113.60. Following the transaction, the director now owns 1,835,739 shares of the company’s stock, valued at approximately $81,506,811.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.50% of the company’s stock.
About Tyco International
Tyco International Ltd. (Tyco) is a diversified company, which provides security products and services, fire protection and detection products and services, valves and controls, and other industrial products. It operates in five segments: ADT Worldwide, Flow Control, Fire Protection Services, Electrical and Metal Products, and Safety Products.