Tredje AP fonden reduced its position in TE Connectivity Ltd (NYSE:TEL) by 20.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 49,597 shares of the electronics maker’s stock after selling 13,101 shares during the period. Tredje AP fonden’s holdings in TE Connectivity were worth $4,753,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Rothschild Investment Corp IL lifted its holdings in TE Connectivity by 1.0% in the 4th quarter. Rothschild Investment Corp IL now owns 10,706 shares of the electronics maker’s stock worth $1,026,000 after buying an additional 101 shares in the last quarter. Citizens Financial Group Inc RI lifted its stake in shares of TE Connectivity by 8.4% in the 4th quarter. Citizens Financial Group Inc RI now owns 1,565 shares of the electronics maker’s stock worth $150,000 after acquiring an additional 121 shares during the period. Synovus Financial Corp lifted its stake in shares of TE Connectivity by 36.1% in the 3rd quarter. Synovus Financial Corp now owns 483 shares of the electronics maker’s stock worth $45,000 after acquiring an additional 128 shares during the period. Girard Partners LTD. lifted its stake in shares of TE Connectivity by 3.7% in the 3rd quarter. Girard Partners LTD. now owns 3,767 shares of the electronics maker’s stock worth $351,000 after acquiring an additional 136 shares during the period. Finally, Dowling & Yahnke LLC lifted its stake in shares of TE Connectivity by 1.8% in the 3rd quarter. Dowling & Yahnke LLC now owns 8,774 shares of the electronics maker’s stock worth $818,000 after acquiring an additional 155 shares during the period. 85.17% of the stock is owned by hedge funds and other institutional investors.
Shares of TE Connectivity stock traded down $1.75 on Tuesday, reaching $86.34. 1,571,147 shares of the company’s stock were exchanged, compared to its average volume of 1,754,533. The company has a market capitalization of $30.65 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 1.61 and a beta of 1.20. TE Connectivity Ltd has a 52 week low of $79.98 and a 52 week high of $101.00. The firm’s 50-day moving average is $95.93 and its two-hundred day moving average is $93.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.64.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 29th. The electronics maker reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.07. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.12 billion. TE Connectivity had a return on equity of 17.72% and a net margin of 12.01%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 EPS. On average, analysts expect that TE Connectivity Ltd will post 5.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 21st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Thursday, February 20th. TE Connectivity’s dividend payout ratio is currently 33.15%.
In related news, Director Terrence R. Curtin sold 34,853 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $94.11, for a total value of $3,280,015.83. Following the transaction, the director now directly owns 164,332 shares in the company, valued at approximately $15,465,284.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven T. Merkt sold 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $94.46, for a total value of $944,600.00. Following the completion of the transaction, the insider now owns 36,608 shares in the company, valued at $3,457,991.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,688 shares of company stock worth $5,150,188. 0.80% of the stock is owned by company insiders.
Several research firms recently commented on TEL. JPMorgan Chase & Co. raised shares of TE Connectivity from a “neutral” rating to an “overweight” rating and increased their target price for the company from $98.00 to $117.00 in a research note on Tuesday, January 21st. SunTrust Banks reiterated a “hold” rating and issued a $102.00 price objective on shares of TE Connectivity in a research note on Thursday, January 30th. They noted that the move was a valuation call. Wells Fargo & Co upgraded shares of TE Connectivity from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $100.00 to $112.00 in a research note on Tuesday, January 14th. Oppenheimer upped their price objective on shares of TE Connectivity from to in a research note on Thursday, January 30th. Finally, ValuEngine upgraded shares of TE Connectivity from a “sell” rating to a “hold” rating in a research note on Friday, December 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $101.79.
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 Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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