Arizona State Retirement System Holds Position in TE Connectivity Ltd. (TEL)
Arizona State Retirement System held its stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the second quarter, Holdings Channel reports. The firm owned 88,000 shares of the electronics maker’s stock at the end of the second quarter. Arizona State Retirement System’s holdings in TE Connectivity were worth $6,924,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Daiwa SB Investments Ltd. acquired a new stake in shares of TE Connectivity during the first quarter worth $101,000. Guardian Life Insurance Co. of America increased its stake in shares of TE Connectivity by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock worth $102,000 after buying an additional 9 shares during the last quarter. Duncker Streett & Co. Inc. increased its stake in shares of TE Connectivity by 17.8% in the second quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock worth $104,000 after buying an additional 200 shares during the last quarter. First Command Bank increased its stake in shares of TE Connectivity by 19.6% in the second quarter. First Command Bank now owns 1,348 shares of the electronics maker’s stock worth $106,000 after buying an additional 221 shares during the last quarter. Finally, Webster Bank N. A. increased its stake in shares of TE Connectivity by 675.0% in the first quarter. Webster Bank N. A. now owns 1,550 shares of the electronics maker’s stock worth $116,000 after buying an additional 1,350 shares during the last quarter. Institutional investors and hedge funds own 90.21% of the company’s stock.
Shares of TE Connectivity Ltd. (TEL) opened at 78.66 on Friday. TE Connectivity Ltd. has a 12-month low of $60.08 and a 12-month high of $85.20. The company has a market cap of $27.80 billion, a P/E ratio of 16.70 and a beta of 1.06. The stock’s 50 day moving average price is $80.24 and its 200 day moving average price is $76.81.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.07. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. On average, analysts forecast that TE Connectivity Ltd. will post $4.74 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, August 23rd. TE Connectivity’s dividend payout ratio is currently 33.97%.
A number of equities research analysts have weighed in on TEL shares. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Wednesday, June 7th. BidaskClub downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Cowen and Company reiterated a “buy” rating and issued a $95.00 target price on shares of TE Connectivity in a report on Thursday. Finally, Deutsche Bank AG lifted their target price on TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a report on Friday, April 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $83.43.
In other news, COO Joseph B. Donahue sold 52,575 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $80.03, for a total value of $4,207,577.25. Following the completion of the transaction, the chief operating officer now owns 93,484 shares of the company’s stock, valued at approximately $7,481,524.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas J. Lynch sold 186,034 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $78.65, for a total value of $14,631,574.10. Following the completion of the transaction, the insider now directly owns 504,885 shares of the company’s stock, valued at approximately $39,709,205.25. The disclosure for this sale can be found here. Insiders sold a total of 726,407 shares of company stock valued at $57,751,239 in the last three months. Corporate insiders own 1.30% of the company’s stock.
TE Connectivity Company Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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