Gyroscope Capital Management Group LLC Purchases 2,751 Shares of TE Connectivity Ltd. (TEL)
Gyroscope Capital Management Group LLC increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,633 shares of the electronics maker’s stock after purchasing an additional 2,751 shares during the quarter. TE Connectivity accounts for approximately 2.8% of Gyroscope Capital Management Group LLC’s investment portfolio, making the stock its 7th largest position. Gyroscope Capital Management Group LLC’s holdings in TE Connectivity were worth $5,636,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Moors & Cabot Inc. raised its stake in TE Connectivity by 0.8% during the second quarter. Moors & Cabot Inc. now owns 2,813 shares of the electronics maker’s stock worth $222,000 after acquiring an additional 21 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in TE Connectivity during the second quarter worth about $8,789,000. Peapack Gladstone Financial Corp raised its stake in TE Connectivity by 6.1% during the second quarter. Peapack Gladstone Financial Corp now owns 51,615 shares of the electronics maker’s stock worth $4,061,000 after acquiring an additional 2,978 shares in the last quarter. Shelton Capital Management acquired a new position in TE Connectivity during the second quarter worth about $255,000. Finally, Sii Investments Inc. WI raised its stake in TE Connectivity by 15.7% during the second quarter. Sii Investments Inc. WI now owns 6,066 shares of the electronics maker’s stock worth $479,000 after acquiring an additional 825 shares in the last quarter. 90.08% of the stock is owned by institutional investors and hedge funds.
In other TE Connectivity news, SVP Mario Calastri sold 6,000 shares of TE Connectivity stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $80.23, for a total value of $481,380.00. Following the transaction, the senior vice president now directly owns 23,078 shares of the company’s stock, valued at approximately $1,851,547.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $10,889,455.92. Following the completion of the transaction, the insider now directly owns 429,499 shares in the company, valued at $35,807,331.63. The disclosure for this sale can be found here. Insiders sold a total of 693,747 shares of company stock valued at $55,780,069 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.
TE Connectivity Ltd. (NYSE TEL) traded up 0.17% on Friday, hitting $86.23. The stock had a trading volume of 989,757 shares. The company has a 50-day moving average price of $81.10 and a 200-day moving average price of $78.45. The stock has a market capitalization of $30.47 billion, a price-to-earnings ratio of 18.31 and a beta of 1.08. TE Connectivity Ltd. has a 1-year low of $60.59 and a 1-year high of $86.42.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.07. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. TE Connectivity’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS. Equities analysts predict that TE Connectivity Ltd. will post $4.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 1.86%. TE Connectivity’s payout ratio is 33.97%.
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Several research analysts have commented on the company. Zacks Investment Research downgraded TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Morgan Stanley reissued an “overweight” rating and set a $89.00 target price on shares of TE Connectivity in a research note on Wednesday, September 20th. BidaskClub downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Cowen and Company reissued a “buy” rating and set a $95.00 target price on shares of TE Connectivity in a research note on Thursday, August 10th. Finally, Royal Bank Of Canada boosted their target price on TE Connectivity from $86.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $84.14.
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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