Swiss National Bank Trims Stake in TE Connectivity Ltd (NYSE:TEL)

Swiss National Bank reduced its position in shares of TE Connectivity Ltd (NYSE:TEL) by 3.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,104,709 shares of the electronics maker’s stock after selling 40,900 shares during the period. Swiss National Bank’s holdings in TE Connectivity were worth $105,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TEL. Rivulet Capital LLC purchased a new position in TE Connectivity during the 1st quarter worth $69,308,000. Rockefeller Capital Management L.P. boosted its position in TE Connectivity by 854,554.5% during the 1st quarter. Rockefeller Capital Management L.P. now owns 846,108 shares of the electronics maker’s stock valued at $68,324,000 after acquiring an additional 846,009 shares in the last quarter. Neuberger Berman Group LLC boosted its position in TE Connectivity by 275.0% during the 1st quarter. Neuberger Berman Group LLC now owns 1,052,801 shares of the electronics maker’s stock valued at $85,013,000 after acquiring an additional 772,017 shares in the last quarter. American Century Companies Inc. boosted its position in TE Connectivity by 19.4% during the 1st quarter. American Century Companies Inc. now owns 3,172,350 shares of the electronics maker’s stock valued at $256,167,000 after acquiring an additional 515,513 shares in the last quarter. Finally, Marathon Asset Management LLP boosted its position in TE Connectivity by 97.4% during the 2nd quarter. Marathon Asset Management LLP now owns 750,622 shares of the electronics maker’s stock valued at $71,893,000 after acquiring an additional 370,408 shares in the last quarter. Institutional investors own 91.55% of the company’s stock.

NYSE TEL traded up $2.70 during midday trading on Friday, hitting $89.99. 938,800 shares of the company traded hands, compared to its average volume of 1,737,495. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.47 and a quick ratio of 0.94. The company has a market cap of $29.32 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.48 and a beta of 1.20. TE Connectivity Ltd has a 52 week low of $69.84 and a 52 week high of $97.99. The company’s 50-day simple moving average is $91.99 and its 200-day simple moving average is $88.10.



TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.08. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.43 billion. TE Connectivity had a return on equity of 18.33% and a net margin of 22.94%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 EPS. On average, research analysts predict that TE Connectivity Ltd will post 5.52 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be given a $0.46 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.04%. TE Connectivity’s payout ratio is 32.80%.

Several analysts have issued reports on TEL shares. Wells Fargo & Co cut TE Connectivity from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 25th. Cross Research cut TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. HC Wainwright reaffirmed a “sell” rating on shares of TE Connectivity in a research report on Friday, May 3rd. Morgan Stanley dropped their target price on TE Connectivity from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Finally, Zacks Investment Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. TE Connectivity currently has a consensus rating of “Hold” and an average price target of $92.21.

In other news, Director Thomas J. Lynch sold 124,400 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $93.41, for a total value of $11,620,204.00. Following the completion of the sale, the director now owns 290,316 shares of the company’s stock, valued at approximately $27,118,417.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven T. Merkt sold 65,650 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $93.55, for a total value of $6,141,557.50. Following the completion of the sale, the insider now directly owns 89,854 shares of the company’s stock, valued at approximately $8,405,841.70. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

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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