Marshall Wace North America L.P. Acquires 356,168 Shares of TE Connectivity Ltd (TEL)
Marshall Wace North America L.P. boosted its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 12,281.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 359,068 shares of the electronics maker’s stock after purchasing an additional 356,168 shares during the period. Marshall Wace North America L.P. owned approximately 0.10% of TE Connectivity worth $31,573,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Commonwealth Bank of Australia lifted its stake in TE Connectivity by 2.2% during the second quarter. Commonwealth Bank of Australia now owns 40,187 shares of the electronics maker’s stock valued at $3,614,000 after purchasing an additional 879 shares during the last quarter. HPM Partners LLC lifted its stake in TE Connectivity by 43.5% during the second quarter. HPM Partners LLC now owns 5,697 shares of the electronics maker’s stock valued at $513,000 after purchasing an additional 1,728 shares during the last quarter. AMP Capital Investors Ltd lifted its stake in TE Connectivity by 7.9% during the second quarter. AMP Capital Investors Ltd now owns 169,363 shares of the electronics maker’s stock valued at $15,254,000 after purchasing an additional 12,364 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in TE Connectivity by 1,066.6% during the second quarter. Advisors Asset Management Inc. now owns 7,233 shares of the electronics maker’s stock valued at $498,000 after purchasing an additional 6,613 shares during the last quarter. Finally, Bridgewater Associates LP lifted its stake in TE Connectivity by 758.6% during the second quarter. Bridgewater Associates LP now owns 262,904 shares of the electronics maker’s stock valued at $23,677,000 after purchasing an additional 232,285 shares during the last quarter. 91.74% of the stock is owned by institutional investors and hedge funds.
Several analysts recently commented on the stock. Macquarie assumed coverage on shares of TE Connectivity in a research note on Monday, October 8th. They set an “outperform” rating for the company. Royal Bank of Canada set a $114.00 price target on shares of TE Connectivity and gave the company a “buy” rating in a report on Tuesday, September 25th. Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. Jefferies Financial Group began coverage on shares of TE Connectivity in a report on Tuesday. They set a “hold” rating and a $84.00 price target on the stock. Finally, Morgan Stanley cut their price target on shares of TE Connectivity from $116.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, September 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $106.00.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.02. The business had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.65 billion. TE Connectivity had a net margin of 17.69% and a return on equity of 20.06%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. Sell-side analysts predict that TE Connectivity Ltd will post 5.71 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be paid a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $1.76 annualized dividend and a yield of 2.36%. TE Connectivity’s dividend payout ratio is presently 31.37%.
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About TE Connectivity
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the AsiaPacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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