Teachers Advisors LLC grew its position in TE Connectivity Ltd (NYSE:TEL) by 54.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 716,986 shares of the electronics maker’s stock after purchasing an additional 252,727 shares during the quarter. Teachers Advisors LLC owned about 0.20% of TE Connectivity worth $68,142,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Luminus Management LLC purchased a new position in TE Connectivity in the fourth quarter worth $23,304,000. Two Sigma Investments LP purchased a new position in TE Connectivity in the fourth quarter worth $26,890,000. Avestar Capital LLC purchased a new position in TE Connectivity in the fourth quarter worth $116,000. Robecosam AG grew its holdings in TE Connectivity by 87.7% in the fourth quarter. Robecosam AG now owns 3,517 shares of the electronics maker’s stock worth $335,000 after purchasing an additional 1,643 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in TE Connectivity by 3.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,077,914 shares of the electronics maker’s stock worth $197,484,000 after purchasing an additional 69,706 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on TEL shares. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a report on Tuesday, January 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $115.00 price target on shares of TE Connectivity in a report on Wednesday, January 24th. Wells Fargo lifted their price target on shares of TE Connectivity from $112.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. ValuEngine raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Morgan Stanley lifted their price target on shares of TE Connectivity from $102.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $137.09.
In other news, insider Steven T. Merkt sold 10,684 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $102.94, for a total transaction of $1,099,810.96. Following the sale, the insider now directly owns 1,983 shares of the company’s stock, valued at $204,130.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Terrence R. Curtin sold 142,450 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $104.24, for a total transaction of $14,848,988.00. Following the transaction, the insider now owns 200,258 shares of the company’s stock, valued at $20,874,893.92. The disclosure for this sale can be found here. Insiders have sold 428,934 shares of company stock worth $43,693,283 over the last three months. Corporate insiders own 0.70% of the company’s stock.
Shares of TE Connectivity Ltd (NYSE TEL) opened at $104.44 on Friday. The firm has a market cap of $36,704.58, a price-to-earnings ratio of 30.18, a PEG ratio of 1.74 and a beta of 1.06. 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 1-year low of $71.93 and a 1-year high of $108.23.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.15. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.39 billion. TE Connectivity had a net margin of 9.12% and a return on equity of 19.49%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 earnings per share. analysts predict that TE Connectivity Ltd will post 5.49 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Thursday, February 22nd. TE Connectivity’s dividend payout ratio (DPR) is presently 46.24%.
TE Connectivity declared that its board has initiated a share repurchase plan on Friday, December 8th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the electronics maker to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
TE Connectivity Profile
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.
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