TE Connectivity Ltd (NYSE:TEL) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. decreased its holdings in TE Connectivity Ltd (NYSE:TEL) by 13.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 150,013 shares of the electronics maker’s stock after selling 22,560 shares during the quarter. Pinebridge Investments L.P.’s holdings in TE Connectivity were worth $14,369,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. grew its position in TE Connectivity by 102.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 515 shares of the electronics maker’s stock worth $49,000 after acquiring an additional 260 shares during the period. Rockefeller Capital Management L.P. increased its position 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 worth $68,324,000 after purchasing an additional 846,009 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of TE Connectivity by 15.0% during the second quarter. Valeo Financial Advisors LLC now owns 1,535 shares of the electronics maker’s stock worth $147,000 after purchasing an additional 200 shares in the last quarter. Cerebellum GP LLC increased its position in shares of TE Connectivity by 14.7% during the first quarter. Cerebellum GP LLC now owns 4,067 shares of the electronics maker’s stock worth $328,000 after purchasing an additional 520 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. purchased a new position in shares of TE Connectivity during the second quarter worth about $221,000. 90.56% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Robert J. Ott sold 22,400 shares of TE Connectivity stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $92.01, for a total transaction of $2,061,024.00. Following the completion of the transaction, the senior vice president now directly owns 39,554 shares of the company’s stock, valued at approximately $3,639,363.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven T. Merkt sold 65,650 shares of TE Connectivity stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $93.55, for a total transaction of $6,141,557.50. Following the transaction, the insider now directly 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 a total of 255,500 shares of company stock worth $23,737,285 over the last quarter. 0.80% of the stock is currently owned by company insiders.

TEL has been the topic of a number of analyst reports. Cross Research lowered TE Connectivity from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Morgan Stanley cut their price objective on TE Connectivity from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Goldman Sachs Group upgraded 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 research report on Thursday, June 20th. Wells Fargo & Co downgraded TE Connectivity from an “outperform” rating to a “market perform” rating in a report on Thursday, July 25th. Finally, Longbow Research downgraded TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 price target for the company. in a report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $92.21.

NYSE:TEL traded down $0.08 during trading hours on Friday, reaching $96.92. 41,674 shares of the company’s stock were exchanged, compared to its average volume of 1,249,087. The company has a market capitalization of $32.17 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.62 and a beta of 1.21. TE Connectivity Ltd has a 12 month low of $69.84 and a 12 month high of $97.99. 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 business’s 50-day simple moving average is $91.11 and its two-hundred day simple moving average is $89.30.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.08. TE Connectivity had a net margin of 22.94% and a return on equity of 18.33%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that TE Connectivity Ltd will post 5.52 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid a $0.46 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.90%. TE Connectivity’s payout ratio is presently 32.80%.

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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