Alberta Investment Management Corp Acquires New Holdings in TE Connectivity Ltd (NYSE:TEL)

Alberta Investment Management Corp purchased a new position in TE Connectivity Ltd (NYSE:TEL) during the 1st quarter, HoldingsChannel reports. The firm purchased 46,600 shares of the electronics maker’s stock, valued at approximately $2,935,000.

A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its position in TE Connectivity by 0.5% in the first quarter. BlackRock Inc. now owns 18,285,115 shares of the electronics maker’s stock worth $1,151,596,000 after acquiring an additional 86,455 shares in the last quarter. State Street Corp raised its position in TE Connectivity by 1.9% in the fourth quarter. State Street Corp now owns 12,857,587 shares of the electronics maker’s stock worth $1,232,271,000 after acquiring an additional 233,761 shares in the last quarter. Capital World Investors raised its position in TE Connectivity by 6.8% in the fourth quarter. Capital World Investors now owns 11,259,513 shares of the electronics maker’s stock worth $1,079,112,000 after acquiring an additional 720,186 shares in the last quarter. Geode Capital Management LLC raised its position in TE Connectivity by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 4,360,846 shares of the electronics maker’s stock worth $417,006,000 after acquiring an additional 123,626 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in TE Connectivity by 13.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,273,906 shares of the electronics maker’s stock worth $409,611,000 after acquiring an additional 490,089 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Shares of TE Connectivity stock opened at $76.23 on Friday. The firm has a market cap of $25.16 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.95 and a beta of 1.31. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.94. TE Connectivity Ltd has a 52-week low of $48.62 and a 52-week high of $101.00. The stock has a 50-day simple moving average of $69.65 and a 200-day simple moving average of $84.15.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.29. TE Connectivity had a return on equity of 17.58% and a net margin of 5.36%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company earned $1.42 EPS. The firm’s revenue was down 6.4% on a year-over-year basis. As a group, equities research analysts predict that TE Connectivity Ltd will post 3.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.46. TE Connectivity’s dividend payout ratio is presently 34.59%.

TEL has been the topic of a number of analyst reports. Cfra dropped their price target on TE Connectivity from $108.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. SunTrust Banks reissued a “hold” rating and issued a $102.00 price target on shares of TE Connectivity in a research note on Thursday, January 30th. They noted that the move was a valuation call. Zacks Investment Research raised TE Connectivity from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a research note on Friday, May 15th. Loop Capital initiated coverage on TE Connectivity in a research note on Monday, April 20th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Morgan Stanley dropped their price target on TE Connectivity from $91.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 18th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $92.12.

TE Connectivity Company 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.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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