Guyasuta Investment Advisors Inc. Increases Position in TE Connectivity Ltd (NYSE:TEL)

Guyasuta Investment Advisors Inc. grew its holdings in TE Connectivity Ltd (NYSE:TEL) by 4.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 159,522 shares of the electronics maker’s stock after buying an additional 6,121 shares during the period. TE Connectivity accounts for approximately 1.6% of Guyasuta Investment Advisors Inc.’s portfolio, making the stock its 23rd largest position. Guyasuta Investment Advisors Inc.’s holdings in TE Connectivity were worth $15,279,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Thor Advisors LLC acquired a new position in shares of TE Connectivity during the first quarter worth about $26,000. Synovus Financial Corp increased its stake in shares of TE Connectivity by 97.2% during the first quarter. Synovus Financial Corp now owns 355 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 175 shares during the period. Weaver Consulting Group acquired a new position in shares of TE Connectivity during the first quarter worth about $28,000. First Interstate Bank acquired a new position in shares of TE Connectivity during the first quarter worth about $32,000. Finally, CX Institutional increased its stake in shares of TE Connectivity by 220.2% during the second quarter. CX Institutional now owns 365 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 251 shares during the period. 90.99% of the stock is owned by institutional investors and hedge funds.

TEL traded down $0.08 on Thursday, hitting $90.77. 23,275 shares of the company were exchanged, compared to its average volume of 1,717,605. TE Connectivity Ltd has a fifty-two week low of $69.84 and a fifty-two week high of $97.99. The firm has a market capitalization of $30.56 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.94 and a current ratio of 1.47. The business’s fifty day moving average is $91.43 and its 200 day moving average is $88.23.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.50 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the firm earned $1.43 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Analysts forecast that TE Connectivity Ltd will post 5.52 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, August 22nd. TE Connectivity’s dividend payout ratio (DPR) is presently 32.80%.

A number of brokerages have recently issued reports on TEL. Morgan Stanley dropped their price target on shares of TE Connectivity from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Monday, April 29th. Cross Research lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Goldman Sachs Group upgraded shares of TE Connectivity from a “neutral” rating to a “buy” rating and upped their target price for the stock from $92.00 to $105.00 in a research report on Thursday, June 20th. Finally, Longbow Research lowered shares of TE Connectivity from a “buy” rating to a “neutral” rating and set a $90.66 target price on the stock. in a research report on Monday, June 17th. 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. The company has an average rating of “Hold” and a consensus target price of $92.21.

In related news, insider Steven T. Merkt sold 65,650 shares of the company’s stock in a transaction that occurred on 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 owns 89,854 shares of the company’s stock, valued at $8,405,841.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John S. Jenkins sold 38,050 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $91.18, for a total transaction of $3,469,399.00. Following the transaction, 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. Insiders sold 233,100 shares of company stock worth $21,676,261 in the last ninety days. Insiders own 0.80% of the company’s stock.

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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