Shares last traded at $88.08 which is just a bit higher than the 50 day moving average of $83.89 and quite a bit higher than the 200 day moving average of $79.57. The 50 day moving average moved up $4.19 and the 200 day average was up $8.51. Trading was light with 1,007K shares changing hands on Tuesday. Trading volume was down 43.73% under the stocks average daily volume.
Traders are a little more bullish on shares of the company of late as shown by the downtick in short interest. The stock saw a fall in short interest of -29.15% between September 15, 2017 and September 29, 2017. Short shares decreased from 3,131,939 to 2,219,003 over that period. With short interest at 2,219,003 and short average daily volume at 1,009,050, days to cover is 2.0 and the percentage of shorted shares was 0.01% on September 29.
TE Connectivity Ltd. New Switze (NYSE:TEL) has been the object of insider selling activity recently. Executive Chairman Thomas J. Lynch disclosed the sale of 130,616 shares of (TEL). The shares were sold on October 2nd for an average price of $83.37. The Executive Chairman now owns $24,917,876 of the stock per the Form 4 SEC filing. Joseph B. Donahue, EVP disclosed the sale of 6,300 shares. The shares were purchased at an average price of $80.70. Donahue now owns $2,792,946 of the stock according to the SEC filing.
A few notable investment firms have updated their holdings. As of the end of the quarter State Treasurer State Of Michigan had disposed of 9,400 shares trimming its stake by 8.1%. The value of the company’s investment in TE Connectivity Ltd. New Switze went from $9,180,000 to $8,910,000 a change of 2.9% quarter over quarter. Financial Architects, Inc reduced its investment by shedding 1,536 shares a decrease of 53.2% from 06/30/2017 to 09/30/2017. Financial Architects, Inc claims 1,349 shares with a value of $112,000. The value of the position overall is down by 50.7%.
Mycio Wealth Partners, LLC downsized its ownership by selling 445 shares a decrease of 7.9% in the quarter. Mycio Wealth Partners, LLC controls 5,219 shares valued at $433,000. The total value of its holdings decreased 2.9%. Robeco Institutional Asset Management B.v. augmented its holdings by buying 3,089 shares an increase of 0.3% as of 09/30/2017. Robeco Institutional Asset Management B.v. now controls 1,182,023 shares worth $98,182,000. The value of the position overall is up by 5.8%.
In the market the company is trading down since yesterday’s close of 88.47. Additionally the company recently announced a dividend for shareholders which was paid on Friday September 8th, 2017. The dividend payment was $0.400 per share for the quarter or $1.60 annualized. This dividend represents a yield of $1.81 which is the dividend as a percentage of the current share price. The ex-dividend date was set for Wednesday the 23rd of August 2017.
TE Connectivity Ltd. New Switze’s P/E ratio is 18.70 and the market cap is 31.13B. In the last earnings report the EPS was $4.71 and is estimated to be $4.75 for the current year with 353,384,000 shares outstanding. Next quarter’s EPS is estimated at $1.12 with next year’s EPS anticipated to be $5.05.
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 AsiaPacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions. The Transportation Solutions segment primarily provides terminals and connector systems and components, sensors, and relays, as well as application tooling and wires, and heat shrink tubing for use in the automotive, commercial transportation, and sensor markets. The Industrial Solutions segment offers terminals and connector systems and components; heat shrink tubing; relays; and wires and cables for industrial equipment, aerospace, defense, oil and gas, and energy markets. The Communications Solutions segment supplies electronic components, such as terminals and connector systems and components, undersea telecommunication systems, antennas, relays, and heat shrink tubing for the data and devices, subsea communications, and appliances markets. TE Connectivity Ltd. offers its products to approximately 150 countries primarily through direct selling to manufacturers, as well as through third-party distributors. The company was formerly known as Tyco Electronics Ltd. and changed its name to TE Connectivity Ltd. in March 2011. TE Connectivity Ltd. was incorporated in 2000 and is based in Schaffhausen, Switzerland..