Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL – Get Rating) by 30.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 928,826 shares of the electronics maker’s stock after selling 408,658 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.29% of TE Connectivity worth $106,629,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in TEL. Teza Capital Management LLC acquired a new stake in TE Connectivity in the 3rd quarter worth about $691,000. National Bank of Canada FI raised its holdings in shares of TE Connectivity by 347.6% in the 4th quarter. National Bank of Canada FI now owns 128,841 shares of the electronics maker’s stock worth $14,790,000 after purchasing an additional 100,058 shares during the period. Strategic Investment Advisors MI raised its holdings in shares of TE Connectivity by 16.5% in the 4th quarter. Strategic Investment Advisors MI now owns 6,569 shares of the electronics maker’s stock worth $754,000 after purchasing an additional 928 shares during the period. Everence Capital Management Inc. raised its holdings in shares of TE Connectivity by 109.9% in the 3rd quarter. Everence Capital Management Inc. now owns 4,660 shares of the electronics maker’s stock worth $514,000 after purchasing an additional 2,440 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of TE Connectivity by 13.6% in the 3rd quarter. Blair William & Co. IL now owns 59,498 shares of the electronics maker’s stock worth $6,566,000 after purchasing an additional 7,146 shares during the period. Institutional investors and hedge funds own 91.10% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on TEL. Wolfe Research downgraded TE Connectivity from an “outperform” rating to a “peer perform” rating in a report on Thursday, February 9th. StockNews.com upgraded TE Connectivity from a “hold” rating to a “buy” rating in a report on Thursday, April 6th. JPMorgan Chase & Co. dropped their target price on TE Connectivity from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, December 20th. Stifel Nicolaus downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a report on Wednesday, February 15th. Finally, Credit Suisse Group raised their target price on TE Connectivity from $117.00 to $136.00 and gave the company a “neutral” rating in a report on Wednesday, April 5th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity currently has an average rating of “Hold” and a consensus target price of $138.27.
TE Connectivity Price Performance
TE Connectivity (NYSE:TEL – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The electronics maker reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.03. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.76 billion. TE Connectivity had a return on equity of 21.25% and a net margin of 13.85%. TE Connectivity’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.76 EPS. Analysts predict that TE Connectivity Ltd. will post 6.56 earnings per share for the current fiscal year.
TE Connectivity Dividend Announcement
The company also recently announced 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 annualized dividend and a dividend yield of 1.88%. TE Connectivity’s payout ratio is 32.05%.
About TE Connectivity
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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