Dana Investment Advisors Inc. increased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 1,491.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 89,294 shares of the electronics maker’s stock after buying an additional 83,683 shares during the period. Dana Investment Advisors Inc.’s holdings in TE Connectivity were worth $7,417,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of TEL. Vanguard Group Inc. raised its position in TE Connectivity by 2.3% during the second quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock valued at $1,834,196,000 after purchasing an additional 521,884 shares in the last quarter. Boston Partners increased its holdings in shares of TE Connectivity by 8.1% in the third quarter. Boston Partners now owns 12,428,336 shares of the electronics maker’s stock worth $1,032,298,000 after buying an additional 934,796 shares during the period. Janus Henderson Group PLC grew its stake in shares of TE Connectivity by 17.7% in the third quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock worth $685,033,000 after purchasing an additional 1,239,920 shares during the last quarter. FMR LLC grew its stake in shares of TE Connectivity by 9.7% in the second quarter. FMR LLC now owns 5,339,755 shares of the electronics maker’s stock worth $420,131,000 after purchasing an additional 472,037 shares during the last quarter. Finally, EdgePoint Investment Group Inc. grew its stake in shares of TE Connectivity by 9.4% in the second quarter. EdgePoint Investment Group Inc. now owns 4,015,693 shares of the electronics maker’s stock worth $315,955,000 after purchasing an additional 346,093 shares during the last quarter. Institutional investors own 90.22% of the company’s stock.
TEL has been the topic of several research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $98.00 price objective on shares of TE Connectivity in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a report on Monday, September 11th. Royal Bank of Canada decreased their price objective on shares of TE Connectivity from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. Robert W. Baird initiated coverage on shares of TE Connectivity in a research note on Friday, November 3rd. They set an “outperform” rating and a $105.00 target price for the company. Finally, Wells Fargo & Company initiated coverage on shares of TE Connectivity in a research note on Friday, November 10th. They set an “outperform” rating and a $105.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $151.93.
Shares of TE Connectivity Ltd. (NYSE:TEL) traded down $0.38 during mid-day trading on Thursday, hitting $95.27. 1,794,700 shares of the stock were exchanged, compared to its average volume of 1,446,935. TE Connectivity Ltd. has a 12-month low of $66.20 and a 12-month high of $96.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.54. The company has a market cap of $33,632.34, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 1.66 and a beta of 1.08.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. sell-side analysts expect that TE Connectivity Ltd. will post 5.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders 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 dividend yield of 1.68%. The ex-dividend date was Wednesday, November 22nd. TE Connectivity’s payout ratio is 33.97%.
TE Connectivity declared that its Board of Directors has authorized a stock repurchase program on Friday, December 8th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the electronics maker to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
In related news, insider Thomas J. Lynch sold 130,617 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $91.29, for a total value of $11,924,025.93. Following the completion of the transaction, the insider now owns 429,500 shares of the company’s stock, valued at approximately $39,209,055. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Joseph B. Donahue sold 1,238 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $93.23, for a total transaction of $115,418.74. Following the completion of the transaction, the chief operating officer now directly owns 52,134 shares of the company’s stock, valued at approximately $4,860,452.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 759,805 shares of company stock valued at $69,542,539. Insiders own 1.30% of the company’s stock.
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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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