Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 28.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,912 shares of the electronics maker's stock after selling 32,489 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in TE Connectivity were worth $11,425,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock worth $1,940,615,000 after buying an additional 268,837 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of TE Connectivity by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock worth $899,681,000 after acquiring an additional 75,658 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of TE Connectivity by 15.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker's stock worth $536,083,000 after acquiring an additional 488,680 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in shares of TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock worth $508,481,000 after purchasing an additional 694,917 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock valued at $445,603,000 after purchasing an additional 712,228 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity Stock Performance
Shares of NYSE TEL traded up $0.94 during trading hours on Wednesday, reaching $147.80. The stock had a trading volume of 2,100,766 shares, compared to its average volume of 1,576,832. The company has a market cap of $44.10 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The business's fifty day moving average is $148.67 and its two-hundred day moving average is $148.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.
TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter last year, the company earned $1.84 earnings per share. The company's revenue for the quarter was up .1% compared to the same quarter last year. As a group, research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.
TE Connectivity Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.92%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity's dividend payout ratio is currently 45.37%.
Analyst Upgrades and Downgrades
A number of research firms have commented on TEL. Robert W. Baird upped their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective for the company in a research note on Thursday, January 23rd. Citigroup boosted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. StockNews.com lowered TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. Finally, Hsbc Global Res raised shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of "Hold" and a consensus target price of $167.00.
Get Our Latest Analysis on TEL
Insider Transactions at TE Connectivity
In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company's stock.
TE Connectivity Company Profile
(
Free Report)
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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