Janus Henderson Group PLC lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 17.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,247,518 shares of the electronics maker’s stock after purchasing an additional 1,239,920 shares during the period. Janus Henderson Group PLC owned about 2.33% of TE Connectivity worth $685,033,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its stake in TE Connectivity by 38.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock worth $109,000 after acquiring an additional 384 shares in the last quarter. AllSquare Wealth Management LLC acquired a new stake in TE Connectivity during the 3rd quarter worth $113,000. Acrospire Investment Management LLC acquired a new stake in TE Connectivity during the 2nd quarter worth $126,000. Harfst & Associates Inc. raised its stake in TE Connectivity by 46.2% during the 2nd quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock worth $135,000 after acquiring an additional 544 shares in the last quarter. Finally, Robecosam AG acquired a new stake in TE Connectivity during the 3rd quarter worth $155,000. 90.22% of the stock is owned by institutional investors and hedge funds.
In other TE Connectivity news, SVP Mario Calastri sold 8,539 shares of TE Connectivity stock in a transaction on Monday, November 6th. The shares were sold at an average price of $93.27, for a total value of $796,432.53. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Robert J. Ott sold 20,000 shares of TE Connectivity stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $95.78, for a total transaction of $1,915,600.00. Following the completion of the transaction, the senior vice president now owns 31,390 shares in the company, valued at $3,006,534.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 759,805 shares of company stock worth $69,542,539. 1.30% of the stock is currently owned by company insiders.
TE Connectivity Ltd. (NYSE TEL) traded up $1.61 during midday trading on Friday, reaching $93.89. 1,798,400 shares of the company’s stock were exchanged, compared to its average volume of 1,440,546. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $32,449.08, a price-to-earnings ratio of 19.11, a PEG ratio of 1.61 and a beta of 1.08. TE Connectivity Ltd. has a one year low of $66.20 and a one year high of $96.68.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. TE Connectivity’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 earnings per share. research analysts anticipate that TE Connectivity Ltd. will post 5.27 EPS for the current year.
TE Connectivity declared that its Board of Directors has initiated a share repurchase program on Friday, December 8th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.70%. TE Connectivity’s dividend payout ratio is presently 33.97%.
Several equities research analysts recently commented on TEL shares. SunTrust Banks lifted their price target on shares of TE Connectivity to $90.00 and gave the stock a “hold” rating in a research note on Thursday, November 2nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Monday, September 4th. Stifel Nicolaus reiterated a “buy” rating and set a $87.00 price target on shares of TE Connectivity in a research note on Tuesday, October 17th. Royal Bank Of Canada reiterated a “buy” rating and set a $95.00 price target (up from $90.00) on shares of TE Connectivity in a research note on Monday, October 30th. Finally, Wells Fargo & Company started coverage on shares of TE Connectivity in a research note on Friday, November 10th. They set an “outperform” rating and a $105.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $151.07.
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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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