LFL Advisers LLC trimmed its stake in TE Connectivity Ltd (NYSE:TEL) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,414 shares of the electronics maker’s stock after selling 3,586 shares during the period. TE Connectivity makes up about 12.3% of LFL Advisers LLC’s portfolio, making the stock its 4th biggest position. LFL Advisers LLC’s holdings in TE Connectivity were worth $12,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of TEL. AllSquare Wealth Management LLC bought a new stake in shares of TE Connectivity during the 3rd quarter worth approximately $113,000. Robecosam AG bought a new stake in shares of TE Connectivity during the 3rd quarter worth approximately $155,000. BB&T Investment Services Inc. increased its holdings in TE Connectivity by 87.3% during the 3rd quarter. BB&T Investment Services Inc. now owns 2,038 shares of the electronics maker’s stock worth $168,000 after purchasing an additional 950 shares during the period. NuWave Investment Management LLC purchased a new position in TE Connectivity during the 4th quarter worth $192,000. Finally, Courier Capital LLC purchased a new position in TE Connectivity during the 4th quarter worth $207,000. 87.19% of the stock is owned by institutional investors and hedge funds.
In other TE Connectivity news, EVP John S. Jenkins sold 36,550 shares of TE Connectivity stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $103.35, for a total transaction of $3,777,442.50. Following the completion of the sale, the executive vice president now owns 53,287 shares of the company’s stock, valued at approximately $5,507,211.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Terrence R. Curtin sold 142,450 shares of TE Connectivity stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $104.24, for a total value of $14,848,988.00. Following the sale, the insider now directly owns 200,258 shares of the company’s stock, valued at approximately $20,874,893.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 514,634 shares of company stock valued at $50,895,162. 0.70% of the stock is currently owned by insiders.
Shares of TE Connectivity Ltd (NYSE:TEL) opened at $102.10 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 1.03. The firm has a market capitalization of $35,858.17, a price-to-earnings ratio of 20.10, a PEG ratio of 1.71 and a beta of 1.11. TE Connectivity Ltd has a 52-week low of $71.93 and a 52-week high of $108.23.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.39 billion. TE Connectivity had a return on equity of 19.49% and a net margin of 9.12%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 EPS. research analysts expect that TE Connectivity Ltd will post 5.48 earnings per share for the current fiscal year.
TE Connectivity announced that its Board of Directors has approved a share buyback program on Friday, December 8th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the electronics maker to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, February 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.57%. TE Connectivity’s dividend payout ratio is currently 46.24%.
Several research analysts have commented on TEL shares. SunTrust Banks raised their price objective on TE Connectivity to $90.00 and gave the stock a “hold” rating in a report on Thursday, November 2nd. They noted that the move was a valuation call. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a report on Monday, January 15th. Morgan Stanley raised their price objective on TE Connectivity from $102.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Royal Bank of Canada reissued a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of TE Connectivity in a research report on Monday, October 30th. Finally, ValuEngine raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One equities 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’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $137.09.
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.
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