Gofen & Glossberg LLC IL purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,523 shares of the electronics maker’s stock, valued at approximately $376,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in TEL. Northwestern Mutual Wealth Management Co. grew its position in shares of TE Connectivity by 38.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,379 shares of the electronics maker’s stock valued at $109,000 after purchasing an additional 384 shares during the last quarter. AllSquare Wealth Management LLC acquired a new position in shares of TE Connectivity in the third quarter valued at approximately $113,000. Acrospire Investment Management LLC acquired a new position in shares of TE Connectivity in the second quarter valued at approximately $126,000. Harfst & Associates Inc. grew its position in shares of TE Connectivity by 46.2% in the second quarter. Harfst & Associates Inc. now owns 1,722 shares of the electronics maker’s stock valued at $135,000 after purchasing an additional 544 shares during the last quarter. Finally, Robecosam AG acquired a new position in shares of TE Connectivity in the third quarter valued at approximately $155,000. 90.22% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TE Connectivity Ltd. (NYSE TEL) traded up $0.24 during trading hours on Friday, reaching $95.51. The company had a trading volume of 1,396,800 shares, compared to its average volume of 1,446,727. The firm has a market capitalization of $33,500.47, a P/E ratio of 19.73, a P/E/G ratio of 1.66 and a beta of 1.08. TE Connectivity Ltd. has a 1-year low of $66.20 and a 1-year high of $96.78. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.09. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.28 billion. TE Connectivity had a return on equity of 18.97% and a net margin of 12.84%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.22 earnings per share. sell-side analysts predict that TE Connectivity Ltd. will post 5.27 EPS for the current fiscal year.
TE Connectivity announced that its board has authorized a stock repurchase program 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 programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Wednesday, November 22nd. TE Connectivity’s dividend payout ratio is currently 33.97%.
In other TE Connectivity news, SVP Eric Resch sold 48,950 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $93.75, for a total transaction of $4,589,062.50. Following the completion of the sale, the senior vice president now directly owns 78,129 shares in the company, valued at $7,324,593.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Thomas J. Lynch sold 130,617 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $93.34, for a total value of $12,191,790.78. Following the sale, the chairman now owns 266,953 shares of the company’s stock, valued at $24,917,393.02. The disclosure for this sale can be found here. Insiders have sold 759,805 shares of company stock worth $69,542,539 in the last three months. 1.30% of the stock is currently owned by company insiders.
Several equities analysts have recently commented on the company. Stifel Nicolaus upped their target price on TE Connectivity from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley upped their target price on TE Connectivity from $97.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday. Cross Research raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. Cowen reaffirmed an “outperform” rating and issued a $110.00 target price (up previously from $95.00) on shares of TE Connectivity in a research report on Thursday, December 7th. Finally, Wells Fargo & Company assumed coverage on TE Connectivity in a research report on Friday, November 10th. They issued an “outperform” rating and a $105.00 target price on the stock. Two equities 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 company. The stock has a consensus rating of “Buy” and a consensus target price of $151.93.
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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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