Meiji Yasuda Asset Management Co Ltd. decreased its position in shares of TE Connectivity Ltd (NYSE:TEL) by 50.0% during the first quarter, HoldingsChannel.com reports. The firm owned 4,916 shares of the electronics maker’s stock after selling 4,916 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in TE Connectivity were worth $397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Advisors Inc. grew its stake in TE Connectivity by 17.1% in the 1st quarter. Cornerstone Advisors Inc. now owns 748 shares of the electronics maker’s stock valued at $60,000 after acquiring an additional 109 shares during the period. Icon Wealth Partners LLC grew its stake in TE Connectivity by 3.0% in the 1st quarter. Icon Wealth Partners LLC now owns 3,948 shares of the electronics maker’s stock valued at $319,000 after acquiring an additional 114 shares during the period. Quadrant Capital Group LLC grew its stake in TE Connectivity by 2.9% in the 1st quarter. Quadrant Capital Group LLC now owns 4,961 shares of the electronics maker’s stock valued at $395,000 after acquiring an additional 142 shares during the period. ETF Managers Group LLC grew its stake 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 valued at $117,000 after acquiring an additional 143 shares during the period. Finally, Global Retirement Partners LLC grew its stake in TE Connectivity by 20.2% in the 1st quarter. Global Retirement Partners LLC now owns 873 shares of the electronics maker’s stock valued at $70,000 after acquiring an additional 147 shares during the period. 91.34% of the stock is currently owned by institutional investors and hedge funds.
In other TE Connectivity news, insider Terrence R. Curtin sold 128,750 shares of TE Connectivity stock in a transaction on Monday, April 29th. The shares were sold at an average price of $94.20, for a total transaction of $12,128,250.00. Following the sale, the insider now owns 213,719 shares of the company’s stock, valued at approximately $20,132,329.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Mario Calastri sold 33,075 shares of TE Connectivity stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $95.00, for a total transaction of $3,142,125.00. Following the sale, the senior vice president now directly owns 25,679 shares in the company, valued at approximately $2,439,505. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 299,383 shares of company stock worth $28,368,769. 0.80% of the stock is currently owned by corporate insiders.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.15. TE Connectivity had a net margin of 20.17% and a return on equity of 18.78%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter last year, the company earned $1.42 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, analysts forecast that TE Connectivity Ltd will post 5.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.03%. The ex-dividend date was Thursday, May 23rd. This is a boost from TE Connectivity’s previous quarterly dividend of $0.44. TE Connectivity’s payout ratio is 32.80%.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. HC Wainwright reissued a “sell” rating on shares of TE Connectivity in a research note on Friday, May 3rd. Finally, ValuEngine cut shares of TE Connectivity from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $94.43.
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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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