Retirement Systems of Alabama Has $13.54 Million Position in TE Connectivity Ltd. (TEL)
Retirement Systems of Alabama boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 172,137 shares of the electronics maker’s stock after buying an additional 396 shares during the period. Retirement Systems of Alabama’s holdings in TE Connectivity were worth $13,544,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the stock. Duncker Streett & Co. Inc. increased 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 worth $104,000 after buying an additional 200 shares during the last quarter. First Command Bank increased its stake in 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. Daiwa SB Investments Ltd. bought a new stake in TE Connectivity during the first quarter worth about $101,000. Guardian Life Insurance Co. of America increased its stake in 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. Finally, Portfolio Solutions LLC bought a new stake in TE Connectivity during the first quarter worth about $104,000. 90.21% of the stock is owned by institutional investors and hedge funds.
Shares of TE Connectivity Ltd. (NYSE TEL) opened at 81.19 on Thursday. The stock has a market capitalization of $28.69 billion, a P/E ratio of 17.24 and a beta of 1.06. The firm’s 50-day moving average is $80.25 and its 200 day moving average is $76.74. TE Connectivity Ltd. has a 1-year low of $59.62 and a 1-year high of $85.20.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data 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. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. TE Connectivity’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $1.08 earnings per share. On average, analysts expect that TE Connectivity Ltd. will post $4.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.97%. TE Connectivity’s payout ratio is 33.97%.
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A number of equities research analysts recently issued reports on the stock. BidaskClub downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Cowen and Company restated an “outperform” rating and issued a $95.00 target price (up from $90.00) on shares of TE Connectivity in a report on Monday, June 5th. Finally, Royal Bank Of Canada boosted their target price on shares of TE Connectivity from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $83.43.
In other news, EVP John S. Jenkins sold 14,000 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $75.70, for a total value of $1,059,800.00. Following the sale, the executive vice president now owns 8,823 shares in the company, valued at $667,901.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mario Calastri sold 6,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $80.23, for a total transaction of $481,380.00. Following the completion of the sale, the senior vice president now owns 23,078 shares in the company, valued at approximately $1,851,547.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 740,407 shares of company stock worth $58,811,039. 1.30% of the stock is currently owned by corporate insiders.
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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