Pictet Asset Management Ltd. Sells 745,523 Shares of TE Connectivity Ltd (NYSE:TEL)

Pictet Asset Management Ltd. lessened its position in shares of TE Connectivity Ltd (NYSE:TEL) by 31.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,590,731 shares of the electronics maker’s stock after selling 745,523 shares during the period. Pictet Asset Management Ltd. owned approximately 0.47% of TE Connectivity worth $152,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Rivulet Capital LLC bought a new position in TE Connectivity in the 1st quarter valued at approximately $69,308,000. Rockefeller Capital Management L.P. raised its stake in shares of TE Connectivity by 854,554.5% during the first 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 during the last quarter. Neuberger Berman Group LLC raised its stake in shares of TE Connectivity by 275.0% during the first 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 during the last quarter. American Century Companies Inc. increased its position in shares of TE Connectivity by 19.4% during the first quarter. American Century Companies Inc. now owns 3,172,350 shares of the electronics maker’s stock worth $256,167,000 after buying an additional 515,513 shares during the period. Finally, Marathon Asset Management LLP increased its position in shares of TE Connectivity by 97.4% during the second quarter. Marathon Asset Management LLP now owns 750,622 shares of the electronics maker’s stock worth $71,893,000 after buying an additional 370,408 shares during the period. 89.88% of the stock is owned by institutional investors.

NYSE:TEL traded down $0.23 during trading hours on Tuesday, reaching $91.34. The company had a trading volume of 1,190,632 shares, compared to its average volume of 1,315,986. The company has a quick ratio of 0.94, a current ratio of 1.47 and a debt-to-equity ratio of 0.32. The firm has a market cap of $31.30 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.58 and a beta of 1.21. The business’s 50-day simple moving average is $91.61 and its two-hundred day simple moving average is $89.94. TE Connectivity Ltd has a twelve month low of $69.84 and a twelve month high of $97.99.



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

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, August 22nd. TE Connectivity’s payout ratio is 32.80%.

Several equities research analysts have recently weighed in on the stock. Cross Research cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Goldman Sachs Group upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $92.00 to $105.00 in a research report on Thursday, June 20th. Longbow Research cut shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 price objective for the company. in a research report on Monday, June 17th. Wells Fargo & Co cut shares of TE Connectivity from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 25th. Finally, Morgan Stanley cut shares of TE Connectivity from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $98.00 to $95.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $91.83.

In other TE Connectivity news, Director Thomas J. Lynch sold 124,400 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were 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 directly owns 290,316 shares in the company, valued at $27,118,417.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $6,141,557.50. Following the completion of the sale, the insider now owns 89,854 shares of the company’s stock, valued at $8,405,841.70. The disclosure for this sale can be found here. Insiders sold 255,500 shares of company stock valued at $23,737,285 over the last 90 days. Corporate insiders own 0.80% of the company’s stock.

TE Connectivity Profile

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.

See Also: Growth Stocks

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd (NYSE:TEL).

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

Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.