Victory Capital Management Inc. trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL – Get Rating) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,224 shares of the electronics maker’s stock after selling 5,444 shares during the quarter. Victory Capital Management Inc.’s holdings in TE Connectivity were worth $10,836,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in 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 during the period. State Street Corp raised its holdings in TE Connectivity by 0.3% in 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 buying an additional 40,740 shares during the period. Boston Partners raised its holdings in TE Connectivity by 3.9% in the 3rd quarter. Boston Partners now owns 3,775,836 shares of the electronics maker’s stock valued at $416,738,000 after buying an additional 141,137 shares during the period. Bank of New York Mellon Corp raised its holdings in TE Connectivity by 56.8% in 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 buying an additional 1,363,669 shares during the period. Finally, Impax Asset Management Group plc raised its holdings in TE Connectivity by 1.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,879,117 shares of the electronics maker’s stock valued at $317,388,000 after buying an additional 30,194 shares during the period. 91.10% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at TE Connectivity
In other TE Connectivity news, CFO Heath A. Mitts sold 9,418 shares of TE Connectivity stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $123.12, for a total transaction of $1,159,544.16. Following the sale, the chief financial officer now directly owns 28,163 shares in the company, valued at approximately $3,467,428.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Heath A. Mitts sold 9,418 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $123.12, for a total transaction of $1,159,544.16. Following the completion of the transaction, the chief financial officer now owns 28,163 shares in the company, valued at approximately $3,467,428.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John S. Jenkins sold 25,025 shares of TE Connectivity stock in a transaction on Monday, May 8th. The shares were sold at an average price of $122.32, for a total value of $3,061,058.00. Following the sale, the executive vice president now directly owns 22,486 shares in the company, valued at approximately $2,750,487.52. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.
Analyst Upgrades and Downgrades
TE Connectivity Stock Down 2.8 %
TEL opened at $118.75 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.69 and a debt-to-equity ratio of 0.36. The firm has a market cap of $37.42 billion, a P/E ratio of 17.88, a PEG ratio of 2.69 and a beta of 1.31. TE Connectivity Ltd. has a 52 week low of $104.76 and a 52 week high of $138.24. The business’s fifty day simple moving average is $124.26 and its 200 day simple moving average is $124.26.
TE Connectivity (NYSE:TEL – Get Rating) last issued its quarterly earnings results on Wednesday, April 26th. The electronics maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.07. TE Connectivity had a return on equity of 20.36% and a net margin of 12.95%. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the company earned $1.81 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 6.56 EPS for the current fiscal year.
TE Connectivity Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 16th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, February 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.99%. TE Connectivity’s payout ratio is currently 35.54%.
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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