Dimensional Fund Advisors LP lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 0.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,506,829 shares of the electronics maker’s stock after selling 9,340 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.71% of TE Connectivity worth $208,203,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc raised its holdings in TE Connectivity by 25.1% in the 2nd quarter. IFP Advisors Inc now owns 6,342 shares of the electronics maker’s stock valued at $499,000 after acquiring an additional 1,272 shares during the last quarter. Global X Management Co. LLC raised its holdings in TE Connectivity by 25.6% in the 2nd quarter. Global X Management Co. LLC now owns 4,204 shares of the electronics maker’s stock valued at $331,000 after acquiring an additional 858 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in TE Connectivity by 5.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,113,847 shares of the electronics maker’s stock valued at $87,638,000 after acquiring an additional 59,171 shares during the last quarter. First Trust Advisors LP raised its holdings in TE Connectivity by 12.2% in the 2nd quarter. First Trust Advisors LP now owns 265,372 shares of the electronics maker’s stock valued at $20,879,000 after acquiring an additional 28,867 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in TE Connectivity by 4.7% in the 2nd quarter. Rhumbline Advisers now owns 304,949 shares of the electronics maker’s stock valued at $23,993,000 after acquiring an additional 13,828 shares during the last quarter. 90.22% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Eric Resch sold 48,950 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $93.75, for a total value 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 approximately $7,324,593.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas J. Lynch sold 130,616 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $83.37, for a total value of $10,889,455.92. Following the completion of the sale, the insider now owns 429,499 shares of the company’s stock, valued at $35,807,331.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 759,805 shares of company stock valued at $69,542,539. 1.49% of the stock is owned by insiders.
Several research analysts have weighed in on TEL shares. SunTrust Banks boosted their price target on TE Connectivity to $90.00 and gave the company 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 $89.00 price target for the company in a report on Monday, September 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $87.00 price target on shares of TE Connectivity in a report on Tuesday, October 17th. Royal Bank Of Canada reiterated a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of TE Connectivity in a report on Monday, October 30th. Finally, Wells Fargo & Company started coverage on TE Connectivity in a report on Friday, November 10th. They issued an “outperform” rating and a $105.00 price target for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $151.07.
TE Connectivity Ltd. (NYSE TEL) traded up $0.93 during mid-day trading on Monday, hitting $94.82. The stock had a trading volume of 2,090,400 shares, compared to its average volume of 1,443,288. The firm has a market cap of $33,324.65, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37. TE Connectivity Ltd. has a 1-year low of $66.20 and a 1-year high of $96.68.
TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $3.46 billion during 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 business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 EPS. equities analysts forecast that TE Connectivity Ltd. will post 5.27 earnings per share for the current year.
TE Connectivity announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 8th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the electronics maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 24th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.69%. TE Connectivity’s payout ratio is 33.97%.
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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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