First Eagle Investment Management LLC Has $46.48 Million Holdings in TE Connectivity Ltd. (TEL)
First Eagle Investment Management LLC trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 66.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 559,638 shares of the electronics maker’s stock after selling 1,125,021 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.16% of TE Connectivity worth $46,484,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Duncker Streett & Co. Inc. grew its stake in TE Connectivity by 17.8% in the second quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock valued at $104,000 after purchasing an additional 200 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in TE Connectivity by 38.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock valued at $109,000 after purchasing an additional 384 shares in the last quarter. Acrospire Investment Management LLC bought a new position in TE Connectivity in the second quarter valued at approximately $126,000. Harfst & Associates Inc. grew its stake in TE Connectivity by 46.2% in the second quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock valued at $135,000 after purchasing an additional 544 shares in the last quarter. Finally, Orrstown Financial Services Inc. grew its stake in TE Connectivity by 7.9% in the second quarter. Orrstown Financial Services Inc. now owns 1,835 shares of the electronics maker’s stock valued at $144,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 90.07% of the company’s stock.
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In related news, insider Thomas J. Lynch sold 130,616 shares of TE Connectivity stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $83.37, for a total transaction of $10,889,455.92. Following the completion of the sale, the insider now directly owns 429,499 shares of the company’s stock, valued at approximately $35,807,331.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Heath A. Mitts sold 10,736 shares of TE Connectivity stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $93.14, for a total value of $999,951.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 521,346 shares of company stock valued at $44,465,473. 1.49% of the stock is currently owned by insiders.
TE Connectivity Ltd. (TEL) traded down $0.17 during trading hours on Tuesday, reaching $93.36. The company had a trading volume of 1,534,400 shares, compared to its average volume of 1,416,352. The firm has a market cap of $33,052.02, a PE ratio of 19.36, a P/E/G ratio of 1.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.54. TE Connectivity Ltd. has a 1-year low of $66.14 and a 1-year high of $93.75.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.09. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.22 EPS. equities research analysts predict that TE Connectivity Ltd. will post 5.26 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.60 annualized dividend and a yield of 1.71%. TE Connectivity’s payout ratio is currently 33.97%.
TEL has been the subject of a number of analyst reports. BidaskClub downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Morgan Stanley decreased their price target on TE Connectivity from GBX 350 ($4.60) to GBX 269 ($3.54) and set an “overweight” rating for the company in a research note on Tuesday, August 8th. Royal Bank Of Canada decreased their price target on TE Connectivity from GBX 300 ($3.95) to GBX 225 ($2.96) and set an “outperform” rating for the company in a research note on Thursday, August 10th. Cowen and Company restated a “buy” rating and issued a $95.00 price target on shares of TE Connectivity in a research note on Thursday, August 10th. Finally, Zacks Investment Research downgraded TE Connectivity from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $150.00.
About TE Connectivity
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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