Freestone Capital Holdings LLC lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,416 shares of the electronics maker’s stock after buying an additional 433 shares during the period. Freestone Capital Holdings LLC’s holdings in TE Connectivity were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Guardian Life Insurance Co. of America increased its holdings in TE Connectivity by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,370 shares of the electronics maker’s stock valued at $102,000 after purchasing an additional 9 shares during the last quarter. Lee Danner & Bass Inc. increased its holdings in TE Connectivity by 0.3% in the 1st quarter. Lee Danner & Bass Inc. now owns 3,899 shares of the electronics maker’s stock valued at $291,000 after purchasing an additional 11 shares during the last quarter. Pictet North America Advisors SA increased its holdings in TE Connectivity by 0.6% in the 2nd quarter. Pictet North America Advisors SA now owns 3,725 shares of the electronics maker’s stock valued at $293,000 after purchasing an additional 24 shares during the last quarter. Eqis Capital Management Inc. increased its holdings in TE Connectivity by 0.9% in the 1st quarter. Eqis Capital Management Inc. now owns 3,270 shares of the electronics maker’s stock valued at $244,000 after purchasing an additional 29 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in TE Connectivity by 0.5% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 6,636 shares of the electronics maker’s stock valued at $495,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 90.08% of the company’s stock.
In other news, COO Joseph B. Donahue sold 52,575 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $80.03, for a total value of $4,207,577.25. Following the completion of the sale, the chief operating officer now directly owns 93,484 shares of the company’s stock, valued at approximately $7,481,524.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mario Calastri sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $80.23, for a total value of $481,380.00. Following the completion of the sale, the senior vice president now directly owns 23,078 shares of the company’s stock, valued at $1,851,547.94. The disclosure for this sale can be found here. Insiders have sold a total of 749,165 shares of company stock valued at $59,522,187 over the last three months. Company insiders own 1.30% of the company’s stock.
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Shares of TE Connectivity Ltd. (NYSE TEL) opened at 82.36 on Friday. The company has a 50-day moving average of $79.70 and a 200-day moving average of $77.71. The stock has a market capitalization of $29.10 billion, a PE ratio of 17.49 and a beta of 1.05. TE Connectivity Ltd. has a 12 month low of $60.59 and a 12 month 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 for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.07. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS. On average, equities research analysts expect that TE Connectivity Ltd. will post $4.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.60 annualized dividend and a yield of 1.94%. TE Connectivity’s dividend payout ratio is currently 33.97%.
Several equities analysts have commented on TEL shares. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research report on Monday, September 4th. Royal Bank Of Canada reissued an “outperform” rating and issued a $86.00 price target on shares of TE Connectivity in a research report on Tuesday, June 6th. Finally, BidaskClub cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $84.14.
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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