TE Connectivity Ltd (TEL) Shares Sold by Becker Capital Management Inc.
Becker Capital Management Inc. reduced its holdings in TE Connectivity Ltd (NYSE:TEL) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 419,705 shares of the electronics maker’s stock after selling 8,530 shares during the quarter. Becker Capital Management Inc.’s holdings in TE Connectivity were worth $33,891,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of TEL. Riverview Trust Co bought a new stake in shares of TE Connectivity in the fourth quarter valued at about $25,000. Taylor Hoffman Wealth Management lifted its stake in shares of TE Connectivity by 432.8% in the fourth quarter. Taylor Hoffman Wealth Management now owns 357 shares of the electronics maker’s stock valued at $27,000 after buying an additional 290 shares during the period. First Interstate Bank bought a new stake in shares of TE Connectivity in the first quarter valued at about $32,000. Legacy Advisors LLC bought a new stake in shares of TE Connectivity in the first quarter valued at about $33,000. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of TE Connectivity by 7,370.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,870,688 shares of the electronics maker’s stock valued at $38,000 after buying an additional 2,832,263 shares during the period. 91.00% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on TEL shares. Zacks Investment Research upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Monday, February 11th. ValuEngine upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. TE Connectivity has an average rating of “Hold” and a consensus price target of $94.43.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, April 24th. The electronics maker reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.15. TE Connectivity had a net margin of 20.17% and a return on equity of 18.78%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter last year, the company earned $1.42 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. As a group, sell-side analysts anticipate that TE Connectivity Ltd will post 5.61 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.46 per share. This is a boost from TE Connectivity’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.84 dividend on an annualized basis and a yield of 2.08%. TE Connectivity’s dividend payout ratio (DPR) is currently 31.37%.
In other TE Connectivity news, Director Thomas J. Lynch sold 68,516 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $95.36, for a total transaction of $6,533,685.76. Following the completion of the transaction, the director now owns 234,398 shares in the company, valued at $22,352,193.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Eric Resch sold 34,050 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $82.70, for a total transaction of $2,815,935.00. Following the transaction, the senior vice president now owns 68,790 shares of the company’s stock, valued at approximately $5,688,933. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 333,433 shares of company stock valued at $31,184,704. Corporate insiders own 0.80% of the company’s stock.
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TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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