Midas Management Corp maintained its position in TE Connectivity Ltd. (NYSE:TEL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,000 shares of the electronics maker’s stock at the end of the second quarter. TE Connectivity makes up about 1.3% of Midas Management Corp’s holdings, making the stock its 19th largest position. Midas Management Corp’s holdings in TE Connectivity were worth $2,518,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of TEL. Daiwa SB Investments Ltd. acquired a new stake in TE Connectivity during the first quarter valued at about $101,000. Guardian Life Insurance Co. of America boosted its position 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. Portfolio Solutions LLC purchased a new position in TE Connectivity during the first quarter valued at $104,000. Duncker Streett & Co. Inc. boosted its position 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. Finally, First Command Bank boosted its position 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. 90.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TE Connectivity Ltd. (TEL) traded down 0.16% on Friday, reaching $78.66. The company had a trading volume of 1,107,537 shares. The firm has a market capitalization of $27.80 billion, a PE ratio of 16.70 and a beta of 1.06. TE Connectivity Ltd. has a 12 month low of $60.08 and a 12 month high of $85.20. The firm’s 50 day moving average is $80.24 and its 200 day moving average is $76.81.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 26th. The electronics maker reported $1.24 EPS for the quarter, topping the 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 net margin of 12.98% and a return on equity of 19.76%. TE Connectivity’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 EPS. On average, equities research analysts expect that TE Connectivity Ltd. will post $4.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, August 23rd. TE Connectivity’s dividend payout ratio (DPR) is presently 33.97%.
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TEL has been the subject of several research analyst reports. Zacks Investment Research cut TE Connectivity from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. Morgan Stanley raised their price objective on TE Connectivity from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, April 28th. Deutsche Bank AG raised their price objective on TE Connectivity from $75.00 to $82.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $86.00 price target on shares of TE Connectivity in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $83.43.
In other news, COO Joseph B. Donahue sold 52,575 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $80.03, for a total value of $4,207,577.25. Following the completion of the transaction, the chief operating officer now directly owns 93,484 shares in the company, valued at $7,481,524.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert J. Ott sold 31,400 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $79.14, for a total transaction of $2,484,996.00. Following the sale, the senior vice president now directly owns 42,371 shares of the company’s stock, valued at $3,353,240.94. The disclosure for this sale can be found here. Insiders sold 726,407 shares of company stock valued at $57,751,239 over the last quarter. Insiders own 1.30% 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.
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