Mitsubishi UFJ Trust & Banking Corp lessened its position in TE Connectivity Ltd (NYSE:TEL) by 62.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 271,184 shares of the electronics maker’s stock after selling 447,275 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.08% of TE Connectivity worth $23,845,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of TE Connectivity by 12.9% in the 2nd quarter. Janus Henderson Group PLC now owns 12,603,520 shares of the electronics maker’s stock valued at $1,135,059,000 after purchasing an additional 1,443,941 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of TE Connectivity by 35.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,631,749 shares of the electronics maker’s stock valued at $327,075,000 after purchasing an additional 950,039 shares in the last quarter. Credit Suisse AG increased its holdings in shares of TE Connectivity by 207.2% in the 3rd quarter. Credit Suisse AG now owns 1,390,551 shares of the electronics maker’s stock valued at $122,270,000 after purchasing an additional 937,858 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of TE Connectivity by 301.5% in the 3rd quarter. Schroder Investment Management Group now owns 1,153,333 shares of the electronics maker’s stock valued at $101,413,000 after purchasing an additional 866,068 shares in the last quarter. Finally, EdgePoint Investment Group Inc. increased its holdings in shares of TE Connectivity by 16.2% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 5,698,700 shares of the electronics maker’s stock valued at $513,225,000 after purchasing an additional 795,423 shares in the last quarter. Institutional investors own 89.01% of the company’s stock.
NYSE:TEL opened at $75.70 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.41 and a debt-to-equity ratio of 0.28. TE Connectivity Ltd has a twelve month low of $73.26 and a twelve month high of $108.23. The stock has a market cap of $26.06 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.21 and a beta of 1.16.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.02. TE Connectivity had a net margin of 17.69% and a return on equity of 20.06%. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the firm posted $1.25 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, research analysts forecast that TE Connectivity Ltd will post 5.72 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, November 21st. This represents a $1.76 annualized dividend and a yield of 2.32%. TE Connectivity’s dividend payout ratio (DPR) is currently 31.37%.
A number of equities analysts have recently issued reports on TEL shares. 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. SunTrust Banks reiterated a “hold” rating and issued a $82.00 price target on shares of TE Connectivity in a report on Wednesday, October 31st. Robert W. Baird downgraded shares of TE Connectivity from an “outperform” rating to a “neutral” rating in a report on Monday, October 1st. Finally, Macquarie started coverage on shares of TE Connectivity in a report on Monday, October 8th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $108.00.
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TE Connectivity Company Profile
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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