Waddell & Reed Financial Inc. Boosts Stock Position in TE Connectivity Ltd (NYSE:TEL)

Waddell & Reed Financial Inc. lifted its position in shares of TE Connectivity Ltd (NYSE:TEL) by 25.8% in the second quarter, HoldingsChannel.com reports. The firm owned 1,959,840 shares of the electronics maker’s stock after purchasing an additional 401,754 shares during the period. Waddell & Reed Financial Inc.’s holdings in TE Connectivity were worth $187,713,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TEL. LSV Asset Management bought a new position in TE Connectivity in the 1st quarter worth approximately $888,000. ETF Managers Group LLC increased its position in TE Connectivity by 11.0% in the 1st quarter. ETF Managers Group LLC now owns 1,447 shares of the electronics maker’s stock worth $117,000 after buying an additional 143 shares during the period. TD Asset Management Inc. increased its position in TE Connectivity by 9.1% in the 1st quarter. TD Asset Management Inc. now owns 130,147 shares of the electronics maker’s stock worth $10,509,000 after buying an additional 10,896 shares during the period. National Asset Management Inc. bought a new position in TE Connectivity in the 1st quarter worth approximately $205,000. Finally, Great West Life Assurance Co. Can increased its position in TE Connectivity by 4.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 245,130 shares of the electronics maker’s stock worth $19,752,000 after buying an additional 11,483 shares during the period. Institutional investors own 89.88% of the company’s stock.

Shares of NYSE:TEL traded down $0.19 during trading on Tuesday, hitting $91.38. 2,290,048 shares of the stock were exchanged, compared to its average volume of 1,315,986. TE Connectivity Ltd has a 1-year low of $69.84 and a 1-year high of $97.99. The company has a market capitalization of $31.30 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.58 and a beta of 1.21. The company’s fifty day simple moving average is $91.61 and its 200-day simple moving average is $89.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 1.47.



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

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

Several brokerages have recently weighed in on TEL. Wells Fargo & Co lowered TE Connectivity from an “outperform” rating to a “market perform” rating in a report on Thursday, July 25th. Cross Research lowered TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Longbow Research lowered TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 price objective on the stock. in a report on Monday, June 17th. Goldman Sachs Group raised TE Connectivity from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $92.00 to $105.00 in a report on Thursday, June 20th. Finally, Morgan Stanley lowered 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 report on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.83.

In related news, insider Steven T. Merkt sold 5,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $89.02, for a total value of $445,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP John S. Jenkins sold 38,050 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $91.18, for a total value of $3,469,399.00. Following the completion of the sale, the executive vice president now directly owns 65,515 shares in the company, valued at approximately $5,973,657.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,500 shares of company stock worth $23,737,285. 0.80% of the stock is owned by insiders.

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: Are 12b-1 Fees Affecting Your Mutual Fund Performance?

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.