AMP Capital Investors Ltd raised its holdings in TE Connectivity Ltd (NYSE:TEL) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 180,245 shares of the electronics maker’s stock after acquiring an additional 10,882 shares during the period. AMP Capital Investors Ltd owned about 0.05% of TE Connectivity worth $15,879,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Commonwealth Bank of Australia grew its stake in TE Connectivity by 2.2% in the second quarter. Commonwealth Bank of Australia now owns 40,187 shares of the electronics maker’s stock valued at $3,614,000 after acquiring an additional 879 shares during the period. HPM Partners LLC boosted its position in shares of TE Connectivity by 43.5% during the second quarter. HPM Partners LLC now owns 5,697 shares of the electronics maker’s stock worth $513,000 after buying an additional 1,728 shares during the period. Bridgewater Associates LP boosted its position in shares of TE Connectivity by 758.6% during the second quarter. Bridgewater Associates LP now owns 262,904 shares of the electronics maker’s stock worth $23,677,000 after buying an additional 232,285 shares during the period. Advisors Asset Management Inc. boosted its position in shares of 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 worth $498,000 after buying an additional 6,613 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of TE Connectivity by 126.4% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 239,300 shares of the electronics maker’s stock worth $21,551,000 after buying an additional 133,588 shares during the period. 89.01% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on TEL shares. ValuEngine cut TE Connectivity from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Morgan Stanley reduced their price objective on TE Connectivity from $107.00 to $102.00 and set an “overweight” rating for the company in a research report on Wednesday, October 3rd. Robert W. Baird cut TE Connectivity from an “outperform” rating to a “neutral” rating in a research report on Monday, October 1st. Royal Bank of Canada set a $114.00 price objective on TE Connectivity and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Finally, Macquarie started coverage on TE Connectivity in a research report on Monday, October 8th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. TE Connectivity presently has an average rating of “Buy” and an average target price of $108.00.
TEL opened at $76.93 on Monday. TE Connectivity Ltd has a 52-week low of $73.26 and a 52-week high of $108.23. The stock has a market cap of $26.39 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.23 and a beta of 1.16. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.98 and a current ratio of 1.41.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.02. TE Connectivity had a return on equity of 20.06% and a net margin of 17.69%. The business had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. TE Connectivity’s revenue was up 8.5% on a year-over-year basis. Equities research analysts predict that TE Connectivity Ltd will post 5.72 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 23rd will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $1.76 annualized dividend and a yield of 2.29%. TE Connectivity’s payout ratio is presently 31.37%.
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TE Connectivity 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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