Private Trust Co. NA lowered its holdings in TE Connectivity Ltd. (NYSE:TEL – Get Rating) by 33.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,330 shares of the electronics maker’s stock after selling 3,169 shares during the period. Private Trust Co. NA’s holdings in TE Connectivity were worth $727,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of TE Connectivity by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 27,935,312 shares of the electronics maker’s stock valued at $3,082,942,000 after acquiring an additional 99,264 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of TE Connectivity by 32.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 25,220,247 shares of the electronics maker’s stock valued at $2,853,671,000 after acquiring an additional 6,186,976 shares in the last quarter. State Street Corp increased its position in shares of TE Connectivity by 0.3% during the 3rd quarter. State Street Corp now owns 11,954,526 shares of the electronics maker’s stock valued at $1,319,301,000 after purchasing an additional 40,740 shares during the last quarter. Boston Partners increased its position in shares of TE Connectivity by 3.9% during the 3rd quarter. Boston Partners now owns 3,775,836 shares of the electronics maker’s stock valued at $416,738,000 after purchasing an additional 141,137 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of TE Connectivity by 56.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,762,825 shares of the electronics maker’s stock valued at $415,266,000 after purchasing an additional 1,363,669 shares during the last quarter. Hedge funds and other institutional investors own 91.10% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on TEL. Stifel Nicolaus lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $130.00 price objective on the stock. in a research report on Wednesday, February 15th. JPMorgan Chase & Co. reduced their price objective on TE Connectivity from $135.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 20th. Robert W. Baird reduced their price objective on TE Connectivity from $147.00 to $143.00 in a research report on Thursday, January 26th. StockNews.com initiated coverage on TE Connectivity in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Wolfe Research lowered TE Connectivity from an “outperform” rating to a “peer perform” rating in a research report on Thursday, February 9th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $136.00.
TE Connectivity Price Performance
TE Connectivity (NYSE:TEL – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The electronics maker reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.03. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.76 billion. TE Connectivity had a return on equity of 21.25% and a net margin of 13.85%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $1.76 EPS. On average, equities research analysts anticipate that TE Connectivity Ltd. will post 6.56 earnings per share for the current year.
TE Connectivity Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 16th will be given a $0.59 dividend. The ex-dividend date is Thursday, February 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.89%. TE Connectivity’s dividend payout ratio is currently 32.05%.
TE Connectivity Company Profile
TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensor solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.
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