TE Connectivity Ltd. (TEL) Stake Increased by Prudential Financial Inc.
Prudential Financial Inc. raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 4.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 511,865 shares of the electronics maker’s stock after buying an additional 22,478 shares during the period. Prudential Financial Inc. owned 0.14% of TE Connectivity worth $40,273,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Guardian Life Insurance Co. of America boosted 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 valued at $102,000 after buying an additional 9 shares in the last quarter. Duncker Streett & Co. Inc. boosted 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 buying an additional 200 shares in the last quarter. First Command Bank boosted 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 valued at $106,000 after buying an additional 221 shares in the last quarter. Webster Bank N. A. boosted its stake in TE Connectivity by 675.0% in the first quarter. Webster Bank N. A. now owns 1,550 shares of the electronics maker’s stock valued at $116,000 after buying an additional 1,350 shares in the last quarter. Finally, Orrstown Financial Services Inc. boosted 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 buying an additional 135 shares in the last quarter. 88.09% of the stock is owned by institutional investors and hedge funds.
TE Connectivity Ltd. (TEL) opened at 78.86 on Thursday. The firm has a 50-day moving average price of $80.21 and a 200 day moving average price of $77.10. The company has a market cap of $27.87 billion, a price-to-earnings ratio of 16.74 and a beta of 1.06. TE Connectivity Ltd. has a one year low of $60.38 and a one year high of $85.20.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.07. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a net margin of 12.98% and a return on equity of 19.76%. TE Connectivity’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $1.08 earnings per share. Equities analysts expect that TE Connectivity Ltd. will post $4.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, August 23rd. TE Connectivity’s payout ratio is 33.97%.
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TEL has been the subject of several recent analyst reports. Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Friday, June 16th. BidaskClub cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $95.00 target price on shares of TE Connectivity in a research note on Thursday, August 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $83.43.
In related news, insider Thomas J. Lynch sold 186,034 shares of TE Connectivity stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $78.65, for a total transaction of $14,631,574.10. Following the transaction, the insider now directly owns 504,885 shares of the company’s stock, valued at $39,709,205.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Joseph B. Donahue sold 52,575 shares of TE Connectivity stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $80.03, for a total transaction of $4,207,577.25. Following the transaction, the chief operating officer now directly owns 93,484 shares in the company, valued at $7,481,524.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 563,132 shares of company stock worth $44,771,630. 1.30% of the stock is currently owned by corporate insiders.
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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