River Wealth Advisors LLC cut its holdings in TE Connectivity Ltd. (NYSE:TEL) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,926 shares of the electronics maker’s stock after selling 855 shares during the quarter. TE Connectivity makes up about 1.5% of River Wealth Advisors LLC’s holdings, making the stock its 13th biggest holding. River Wealth Advisors LLC’s holdings in TE Connectivity were worth $3,233,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Duncker Streett & Co. Inc. grew its position in shares of TE Connectivity by 17.8% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 1,325 shares of the electronics maker’s stock worth $104,000 after buying an additional 200 shares during the period. AllSquare Wealth Management LLC purchased a new stake in shares of TE Connectivity in the 3rd quarter worth about $113,000. Northwestern Mutual Wealth Management Co. grew its position in shares of TE Connectivity by 38.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock worth $109,000 after buying an additional 384 shares during the period. Acrospire Investment Management LLC purchased a new stake in shares of TE Connectivity in the 2nd quarter worth about $126,000. Finally, Harfst & Associates Inc. grew its position in shares of TE Connectivity by 46.2% in the 2nd quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock worth $135,000 after buying an additional 544 shares during the period. 90.07% of the stock is currently owned by hedge funds and other institutional investors.
TE Connectivity Ltd. (TEL) traded up $0.34 on Tuesday, reaching $93.70. 567,023 shares of the company’s stock traded hands, compared to its average volume of 1,416,352. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37. The company has a market cap of $33,052.02, a PE ratio of 19.36, a P/E/G ratio of 1.81 and a beta of 1.06. TE Connectivity Ltd. has a 1-year low of $66.14 and a 1-year high of $93.75.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.09. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 EPS. research analysts forecast that TE Connectivity Ltd. will post 5.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.71%. The ex-dividend date is Wednesday, November 22nd. TE Connectivity’s dividend payout ratio is currently 33.97%.
A number of brokerages recently issued reports on TEL. BidaskClub cut shares of TE Connectivity from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Morgan Stanley reiterated an “overweight” rating and issued a $89.00 price target on shares of TE Connectivity in a research note on Wednesday, September 20th. Cowen and Company reiterated a “buy” rating and issued a $95.00 price target on shares of TE Connectivity in a research note on Thursday, August 10th. Zacks Investment Research cut shares of TE Connectivity from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Finally, Royal Bank Of Canada dropped their price target on shares of TE Connectivity from GBX 300 ($3.95) to GBX 225 ($2.96) and set an “outperform” rating on the stock in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. TE Connectivity has a consensus rating of “Buy” and an average target price of $150.00.
In other news, SVP Mario Calastri sold 8,539 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $93.27, for a total value of $796,432.53. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Thomas J. Lynch sold 186,033 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $79.29, for a total transaction of $14,750,556.57. Following the completion of the transaction, the insider now owns 298,851 shares in the company, valued at approximately $23,695,895.79. The disclosure for this sale can be found here. Insiders have sold a total of 521,346 shares of company stock worth $44,465,473 in the last 90 days. Company insiders own 1.49% of the company’s stock.
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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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