Korea Investment CORP Has $48.45 Million Position in TE Connectivity Ltd (TEL)

Korea Investment CORP cut its stake in shares of TE Connectivity Ltd (NYSE:TEL) by 15.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 551,052 shares of the electronics maker’s stock after selling 103,764 shares during the quarter. Korea Investment CORP owned 0.16% of TE Connectivity worth $48,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Credit Suisse AG lifted its holdings in TE Connectivity by 207.2% in the 3rd quarter. Credit Suisse AG now owns 1,390,551 shares of the electronics maker’s stock worth $122,270,000 after buying an additional 937,858 shares during the period. Schroder Investment Management Group lifted its holdings in TE Connectivity by 301.5% in the 3rd quarter. Schroder Investment Management Group now owns 1,153,333 shares of the electronics maker’s stock worth $101,413,000 after buying an additional 866,068 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in TE Connectivity by 1.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 267,932 shares of the electronics maker’s stock worth $24,619,000 after buying an additional 4,259 shares during the period. FMR LLC lifted its holdings in TE Connectivity by 7.4% in the 3rd quarter. FMR LLC now owns 5,309,423 shares of the electronics maker’s stock worth $466,857,000 after buying an additional 366,225 shares during the period. Finally, FIL Ltd lifted its holdings in TE Connectivity by 8.5% in the 3rd quarter. FIL Ltd now owns 213,018 shares of the electronics maker’s stock worth $18,731,000 after buying an additional 16,624 shares during the period. Institutional investors own 89.01% of the company’s stock.

TEL opened at $74.96 on Monday. The company has a market capitalization of $25.71 billion, a PE ratio of 13.36, a PEG ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.41 and a quick ratio of 0.98. TE Connectivity Ltd has a 52 week low of $73.26 and a 52 week high of $108.23.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, October 31st. The electronics maker reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.02. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.65 billion. TE Connectivity had a return on equity of 20.06% and a net margin of 17.69%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. As a group, research analysts expect that TE Connectivity Ltd will post 5.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Wednesday, November 21st. TE Connectivity’s payout ratio is presently 31.37%.

Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded TE Connectivity from a “sell” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada dropped their price objective on TE Connectivity to $96.00 and set a “positive” rating for the company in a report on Thursday, November 1st. They noted that the move was a valuation call. SunTrust Banks reiterated a “hold” rating and issued a $82.00 price objective on shares of TE Connectivity in a report on Wednesday, October 31st. Macquarie assumed coverage on TE Connectivity in a report on Monday, October 8th. They issued an “outperform” rating for the company. Finally, ValuEngine cut TE Connectivity from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $108.00.

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About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia–Pacific. 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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