Diversified Trust Co Purchases New Position in TE Connectivity Ltd (TEL)

Diversified Trust Co purchased a new stake in TE Connectivity Ltd (NYSE:TEL) during the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 13,760 shares of the electronics maker’s stock, valued at approximately $1,026,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TEL. Dodge & Cox purchased a new position in TE Connectivity during the fourth quarter valued at about $1,913,073,000. State Street Corp boosted its position in TE Connectivity by 2.8% in the fourth quarter. State Street Corp now owns 13,363,817 shares of the electronics maker’s stock valued at $925,848,000 after buying an additional 364,644 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in TE Connectivity by 24.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,936,361 shares of the electronics maker’s stock valued at $768,463,000 after buying an additional 2,348,403 shares in the last quarter. Boston Partners boosted its position in TE Connectivity by 21.5% in the third quarter. Boston Partners now owns 10,886,199 shares of the electronics maker’s stock valued at $700,854,000 after buying an additional 1,922,737 shares in the last quarter. Finally, Longview Partners Guernsey LTD boosted its position in TE Connectivity by 2.0% in the third quarter. Longview Partners Guernsey LTD now owns 10,481,429 shares of the electronics maker’s stock valued at $674,794,000 after buying an additional 205,386 shares in the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

Shares of TE Connectivity Ltd (NYSE:TEL) opened at 74.67 on Friday. The stock has a 50 day moving average of $74.68 and a 200 day moving average of $72.16. The firm has a market capitalization of $26.51 billion, a price-to-earnings ratio of 12.83 and a beta of 1.16. TE Connectivity Ltd has a 52-week low of $54.54 and a 52-week high of $79.69.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, April 26th. The electronics maker reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.11. TE Connectivity had a net margin of 16.56% and a return on equity of 19.26%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue was up 9.3% on a year-over-year basis. On average, analysts predict that TE Connectivity Ltd will post $4.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Friday, May 26th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.37. TE Connectivity’s dividend payout ratio is currently 25.92%.

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TEL has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Friday, May 12th. Royal Bank of Canada restated an “outperform” rating and set a $82.00 target price on shares of TE Connectivity in a research report on Tuesday, March 28th. Morgan Stanley upped their target price on shares of TE Connectivity from $85.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. Cowen and Company initiated coverage on shares of TE Connectivity in a research report on Tuesday, March 21st. They set an “outperform” rating and a $90.00 target price on the stock. Finally, Deutsche Bank AG upped their target price on shares of TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $82.29.

In other TE Connectivity news, insider Thomas J. Lynch sold 131,875 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $76.85, for a total transaction of $10,134,593.75. Following the transaction, the insider now directly owns 450,694 shares in the company, valued at approximately $34,635,833.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Tim Murphy sold 1,752 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $74.46, for a total transaction of $130,453.92. Following the transaction, the senior vice president now owns 4,084 shares in the company, valued at $304,094.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 437,209 shares of company stock worth $33,006,586. Insiders own 1.49% of the company’s stock.

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.

12 Month Chart for NYSE:TEL

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