Geode Capital Management LLC Grows Holdings in TE Connectivity Ltd (TEL)

Geode Capital Management LLC boosted its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 5.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,810,379 shares of the electronics maker’s stock after acquiring an additional 188,148 shares during the period. Geode Capital Management LLC’s holdings in TE Connectivity were worth $287,667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TEL. Riverview Trust Co bought a new stake in shares of TE Connectivity in the 4th quarter worth $25,000. Taylor Hoffman Wealth Management grew its stake in shares of TE Connectivity by 432.8% in the 4th quarter. Taylor Hoffman Wealth Management now owns 357 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 290 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of TE Connectivity by 7,370.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,870,688 shares of the electronics maker’s stock worth $38,000 after acquiring an additional 2,832,263 shares in the last quarter. Patten Group Inc. bought a new stake in shares of TE Connectivity in the 4th quarter worth $41,000. Finally, Bruderman Asset Management LLC grew its stake in shares of TE Connectivity by 916.7% in the 4th quarter. Bruderman Asset Management LLC now owns 610 shares of the electronics maker’s stock worth $46,000 after acquiring an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Several analysts have recently issued reports on TEL shares. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research note on Monday, April 29th. ValuEngine upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $94.43.

Shares of NYSE:TEL opened at $89.27 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.41 and a quick ratio of 0.90. The stock has a market cap of $30.16 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.49 and a beta of 1.10. TE Connectivity Ltd has a twelve month low of $69.84 and a twelve month high of $99.52.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.15. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.36 billion. TE Connectivity had a net margin of 20.17% and a return on equity of 18.78%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned $1.42 earnings per share. Analysts predict that TE Connectivity Ltd will post 5.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.06%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, May 23rd. TE Connectivity’s dividend payout ratio is presently 31.37%.

In other news, SVP Eric Resch sold 34,050 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $82.70, for a total value of $2,815,935.00. Following the sale, the senior vice president now directly owns 68,790 shares of the company’s stock, valued at $5,688,933. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas J. Lynch sold 42,239 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $95.11, for a total transaction of $4,017,351.29. Following the completion of the sale, the director now directly owns 208,121 shares in the company, valued at $19,794,388.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 333,433 shares of company stock worth $31,184,704. Insiders own 0.80% of the company’s stock.

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About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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

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