Benson Investment Management Company Inc. reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,000 shares of the electronics maker’s stock after selling 205 shares during the period. TE Connectivity accounts for 2.1% of Benson Investment Management Company Inc.’s portfolio, making the stock its 24th largest position. Benson Investment Management Company Inc.’s holdings in TE Connectivity were worth $2,282,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of TEL. Daiwa SB Investments Ltd. acquired a new position in shares of TE Connectivity during the first quarter valued at about $101,000. Guardian Life Insurance Co. of America raised its position in shares of 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 during the period. Portfolio Solutions LLC acquired a new position in shares of TE Connectivity during the first quarter valued at about $104,000. Duncker Streett & Co. Inc. raised its position in shares of 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 during the period. Finally, First Command Bank raised its position in shares of 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 during the period. 90.21% of the stock is currently owned by institutional investors.
TE Connectivity Ltd. (NYSE:TEL) traded down 0.16% on Friday, reaching $78.66. 1,107,537 shares of the company traded hands. The firm has a 50 day moving average of $80.24 and a 200-day moving average of $76.81. TE Connectivity Ltd. has a one year low of $60.08 and a one year high of $85.20. The stock has a market capitalization of $27.80 billion, a PE ratio of 16.70 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 26th. The electronics maker reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.07. TE Connectivity had a return on equity of 19.76% and a net margin of 12.98%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the business posted $1.08 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. On average, analysts anticipate that TE Connectivity Ltd. will post $4.74 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date is Wednesday, August 23rd. TE Connectivity’s payout ratio is presently 33.97%.
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TEL has been the topic of several recent research reports. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Wednesday, June 7th. BidaskClub lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Cowen and Company reissued a “buy” rating and set a $95.00 price objective on shares of TE Connectivity in a research note on Thursday. Finally, Deutsche Bank AG lifted their price objective on shares of TE Connectivity from $75.00 to $82.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. TE Connectivity has an average rating of “Buy” and a consensus price target of $83.43.
In other TE Connectivity news, insider Thomas J. Lynch sold 186,034 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $78.65, for a total transaction of $14,631,574.10. Following the transaction, the insider now directly owns 504,885 shares in the company, valued at approximately $39,709,205.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Robert J. Ott sold 31,400 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $79.14, for a total value of $2,484,996.00. Following the transaction, the senior vice president now owns 42,371 shares in the company, valued at $3,353,240.94. The disclosure for this sale can be found here. Insiders sold 726,407 shares of company stock worth $57,751,239 over the last quarter. 1.30% of the stock is currently owned by company insiders.
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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