Logan Capital Management Inc. decreased its position in TE Connectivity Ltd (NYSE:TEL) by 18.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,967 shares of the electronics maker’s stock after selling 1,600 shares during the quarter. Logan Capital Management Inc.’s holdings in TE Connectivity were worth $662,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in TE Connectivity by 5.7% in the 4th quarter. Victory Capital Management Inc. now owns 9,550 shares of the electronics maker’s stock valued at $908,000 after buying an additional 516 shares during the period. Advisor Partners LLC grew its holdings in TE Connectivity by 7.7% in the 4th quarter. Advisor Partners LLC now owns 7,770 shares of the electronics maker’s stock valued at $783,000 after buying an additional 556 shares during the period. Naples Global Advisors LLC grew its holdings in TE Connectivity by 8.6% in the 4th quarter. Naples Global Advisors LLC now owns 7,499 shares of the electronics maker’s stock valued at $713,000 after buying an additional 592 shares during the period. Schroder Investment Management Group grew its holdings in TE Connectivity by 23.8% in the 3rd quarter. Schroder Investment Management Group now owns 3,259 shares of the electronics maker’s stock valued at $269,000 after buying an additional 626 shares during the period. Finally, Walter & Keenan Financial Consulting Co. MI ADV grew its holdings in TE Connectivity by 15.8% in the 3rd quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 4,864 shares of the electronics maker’s stock valued at $404,000 after buying an additional 665 shares during the period. 87.19% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on the company. ValuEngine upgraded TE Connectivity from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. SunTrust Banks restated a “hold” rating and issued a $102.00 price target on shares of TE Connectivity in a report on Thursday, January 25th. Royal Bank of Canada restated a “buy” rating and issued a $116.00 price target on shares of TE Connectivity in a report on Wednesday, January 24th. Stifel Nicolaus restated a “buy” rating and issued a $115.00 price target on shares of TE Connectivity in a report on Wednesday, January 24th. Finally, Citigroup lifted their price target on TE Connectivity from $106.00 to $119.00 and gave the company a “buy” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $137.09.
In other news, insider Thomas J. Lynch sold 52,650 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $94.32, for a total transaction of $4,965,948.00. Following the completion of the sale, the insider now owns 136,336 shares in the company, valued at approximately $12,859,211.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas J. Lynch sold 76,184 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $94.74, for a total value of $7,217,672.16. Following the sale, the insider now owns 254,689 shares of the company’s stock, valued at approximately $24,129,235.86. The disclosure for this sale can be found here. Insiders have sold a total of 525,318 shares of company stock valued at $51,994,973 in the last quarter. Company insiders own 0.70% of the company’s stock.
Shares of TE Connectivity Ltd (NYSE:TEL) opened at $102.27 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34. TE Connectivity Ltd has a fifty-two week low of $71.93 and a fifty-two week high of $108.23. The stock has a market capitalization of $35,478.87, a PE ratio of 19.89, a PEG ratio of 1.69 and a beta of 1.11.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. TE Connectivity had a return on equity of 19.49% and a net margin of 9.12%. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the business earned $1.15 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. research analysts expect that TE Connectivity Ltd will post 5.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, February 22nd. TE Connectivity’s payout ratio is currently 46.24%.
TE Connectivity declared that its board has authorized a share buyback program on Friday, December 8th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
ILLEGAL ACTIVITY NOTICE: “Logan Capital Management Inc. Has $662,000 Position in TE Connectivity Ltd (TEL)” was published by Transcript Daily and is the property of of Transcript Daily. If you are viewing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The original version of this piece of content can be accessed at https://transcriptdaily.com/2018/02/24/logan-capital-management-inc-has-662000-position-in-te-connectivity-ltd-tel.html.
About TE Connectivity
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd (NYSE:TEL).
Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.