Bailard Inc. lowered its holdings in TE Connectivity Ltd (NYSE:TEL) by 11.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,906 shares of the electronics maker’s stock after selling 2,399 shares during the quarter. Bailard Inc.’s holdings in TE Connectivity were worth $1,354,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. S&CO Inc. raised its position in TE Connectivity by 0.5% in the fourth quarter. S&CO Inc. now owns 26,081 shares of the electronics maker’s stock valued at $1,973,000 after purchasing an additional 130 shares during the period. Boys Arnold & Co. Inc. raised its holdings in shares of TE Connectivity by 1.3% in the 4th quarter. Boys Arnold & Co. Inc. now owns 11,395 shares of the electronics maker’s stock valued at $852,000 after buying an additional 145 shares during the period. ETF Managers Group LLC raised its holdings in shares of TE Connectivity by 15.7% in the 4th quarter. ETF Managers Group LLC now owns 1,304 shares of the electronics maker’s stock valued at $99,000 after buying an additional 177 shares during the period. Cornerstone Advisors Inc. raised its holdings in shares of TE Connectivity by 39.8% in the 4th quarter. Cornerstone Advisors Inc. now owns 639 shares of the electronics maker’s stock valued at $48,000 after buying an additional 182 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in shares of TE Connectivity by 3.9% in the 4th quarter. Quadrant Capital Group LLC now owns 4,819 shares of the electronics maker’s stock valued at $359,000 after buying an additional 183 shares during the period. Institutional investors own 93.32% of the company’s stock.
In related news, CFO Heath A. Mitts sold 12,908 shares of the business’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $83.05, for a total transaction of $1,072,009.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.80% of the company’s stock.
TEL has been the topic of several research analyst reports. Zacks Investment Research upgraded TE Connectivity from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. ValuEngine upgraded TE Connectivity from a “sell” rating to a “hold” rating in a report on Tuesday, December 18th. Robert W. Baird reiterated a “hold” rating and issued a $79.00 price objective on shares of TE Connectivity in a report on Sunday, January 6th. Finally, Royal Bank of Canada cut their price objective on TE Connectivity to $96.00 and set a “positive” rating on the stock in a report on Thursday, November 1st. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $97.78.
TEL stock opened at $80.08 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $27.25 billion, a P/E ratio of 14.27, a PEG ratio of 1.38 and a beta of 1.04. TE Connectivity Ltd has a 12-month low of $69.84 and a 12-month high of $106.00.
TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 23rd. The electronics maker reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.01. TE Connectivity had a return on equity of 19.22% and a net margin of 20.06%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the firm posted $1.40 EPS. TE Connectivity’s revenue for the quarter was up .3% on a year-over-year basis. On average, research analysts expect that TE Connectivity Ltd will post 5.45 EPS for the current year.
TE Connectivity declared that its board has approved a stock buyback program on Friday, December 14th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the electronics maker to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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 AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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