Today: Today: Ngam Advisors L.P. Buys 9,614 Shares of TE Connectivity Ltd. (TEL)

Today: Ngam Advisors L.P. Buys 9,614 Shares of TE Connectivity Ltd. (TEL)

Ngam Advisors L.P. raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 209,355 shares of the company’s stock after buying an additional 9,614 shares during the period. Ngam Advisors L.P. owned approximately 0.06% of TE Connectivity worth $13,478,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TEL. HL Financial Services LLC raised its stake in TE Connectivity by 4.1% in the second quarter. HL Financial Services LLC now owns 1,257,346 shares of the company’s stock worth $71,807,000 after buying an additional 49,697 shares in the last quarter. BB&T Corp raised its stake in TE Connectivity by 1,159.1% in the second quarter. BB&T Corp now owns 300,055 shares of the company’s stock worth $17,137,000 after buying an additional 276,224 shares in the last quarter. Todd Asset Management LLC raised its stake in TE Connectivity by 29.7% in the second quarter. Todd Asset Management LLC now owns 724,333 shares of the company’s stock worth $41,366,000 after buying an additional 165,815 shares in the last quarter. PGGM Investments raised its stake in TE Connectivity by 76.3% in the second quarter. PGGM Investments now owns 751,144 shares of the company’s stock worth $42,898,000 after buying an additional 325,170 shares in the last quarter. Finally, Becker Capital Management Inc. raised its stake in TE Connectivity by 12.2% in the second quarter. Becker Capital Management Inc. now owns 600,422 shares of the company’s stock worth $34,290,000 after buying an additional 65,245 shares in the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Ltd. (NYSE:TEL) traded down 0.35% on Monday, reaching $67.76. 264,741 shares of the company’s stock traded hands. The stock’s 50 day moving average is $64.08 and its 200 day moving average is $61.53. The firm has a market cap of $24.08 billion, a price-to-earnings ratio of 12.45 and a beta of 1.20. TE Connectivity Ltd. has a 52-week low of $51.70 and a 52-week high of $68.14.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, November 2nd. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.07. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.62 billion. TE Connectivity had a net margin of 16.42% and a return on equity of 18.39%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. On average, equities research analysts predict that TE Connectivity Ltd. will post $4.36 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 25th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Tuesday, November 22nd. TE Connectivity’s dividend payout ratio (DPR) is presently 27.01%.

A number of research firms have recently issued reports on TEL. Zacks Investment Research lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a report on Monday, September 26th. Royal Bank Of Canada upped their price objective on shares of TE Connectivity from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, November 3rd. Morgan Stanley reiterated a “buy” rating on shares of TE Connectivity in a research note on Tuesday, September 20th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $66.00 price objective (up previously from $65.00) on shares of TE Connectivity in a research note on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $65.67.

In related news, COO Joseph B. Donahue sold 10,000 shares of TE Connectivity stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $63.78, for a total transaction of $637,800.00. Following the transaction, the chief operating officer now owns 38,825 shares of the company’s stock, valued at approximately $2,476,258.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 507,776 shares in the company, valued at approximately $31,878,177.28. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by insiders.

TE Connectivity Company Profile

Related posts

Leave a Comment