NorthCoast Asset Management LLC Has $14.14 Million Position in TE Connectivity Ltd. (TEL)
NorthCoast Asset Management LLC trimmed its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 170,267 shares of the electronics maker’s stock after selling 11,373 shares during the quarter. TE Connectivity accounts for about 1.7% of NorthCoast Asset Management LLC’s holdings, making the stock its 28th largest position. NorthCoast Asset Management LLC’s holdings in TE Connectivity were worth $14,142,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in TEL. Renaissance Technologies LLC bought a new stake in shares of TE Connectivity during the 1st quarter valued at $3,601,000. State of Alaska Department of Revenue raised its stake in shares of TE Connectivity by 42.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 4,670 shares of the electronics maker’s stock valued at $367,000 after purchasing an additional 1,391 shares during the period. Duncker Streett & Co. Inc. raised its stake in shares of TE Connectivity by 17.8% during the 2nd 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 during the period. Quantitative Systematic Strategies LLC bought a new stake in shares of TE Connectivity during the 2nd quarter valued at $1,017,000. Finally, Cue Financial Group Inc. bought a new stake in shares of TE Connectivity during the 2nd quarter valued at $429,000. Institutional investors own 89.58% of the company’s stock.
TE Connectivity Ltd. (NYSE:TEL) traded down $1.44 on Friday, hitting $94.51. The stock had a trading volume of 1,698,200 shares, compared to its average volume of 1,427,726. TE Connectivity Ltd. has a 1 year low of $66.20 and a 1 year high of $96.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.54 and a quick ratio of 1.07. The stock has a market cap of $33,233.23, a PE ratio of 19.57, a P/E/G ratio of 1.64 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the business earned $1.22 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. research analysts expect that TE Connectivity Ltd. will post 5.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, November 22nd. TE Connectivity’s payout ratio is currently 33.97%.
TEL has been the subject of several recent analyst reports. Stifel Nicolaus restated a “buy” rating and set a $98.00 target price on shares of TE Connectivity in a research report on Friday, November 3rd. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Monday, September 11th. Royal Bank Of Canada reduced their target price on TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Thursday, November 2nd. Robert W. Baird initiated coverage on TE Connectivity in a research report on Friday, November 3rd. They set an “outperform” rating and a $105.00 target price for the company. Finally, Wells Fargo & Company initiated coverage on TE Connectivity in a research report on Friday, November 10th. They set an “outperform” rating and a $105.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. TE Connectivity presently has a consensus rating of “Buy” and a consensus target price of $150.00.
In other news, insider Thomas J. Lynch sold 130,616 shares of the company’s stock in a transaction dated 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 approximately $35,807,331.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mario Calastri sold 8,539 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $93.27, for a total value of $796,432.53. The disclosure for this sale can be found here. Insiders sold a total of 762,571 shares of company stock valued at $67,135,357 over the last quarter. Company insiders own 1.30% of the company’s stock.
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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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