British Airways Pensions Investment Management Ltd lessened its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 54.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199,004 shares of the electronics maker’s stock after selling 240,620 shares during the period. British Airways Pensions Investment Management Ltd owned 0.06% of TE Connectivity worth $18,918,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. AllSquare Wealth Management LLC acquired a new position in TE Connectivity in the third quarter worth approximately $113,000. Robecosam AG acquired a new position in TE Connectivity in the third quarter worth approximately $155,000. BB&T Investment Services Inc. grew its position in TE Connectivity by 87.3% in the third quarter. BB&T Investment Services Inc. now owns 2,038 shares of the electronics maker’s stock worth $168,000 after buying an additional 950 shares during the last quarter. Courier Capital LLC acquired a new position in TE Connectivity in the fourth quarter worth approximately $207,000. Finally, Rockland Trust Co. acquired a new position in TE Connectivity in the fourth quarter worth approximately $213,000. 89.58% of the stock is currently owned by institutional investors.
TEL has been the topic of several recent research reports. Wells Fargo & Co lifted their price target on shares of TE Connectivity from $112.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research note on Monday, January 15th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $95.00 price objective (up previously from $90.00) on shares of TE Connectivity in a research note on Monday, October 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $98.00 price objective on shares of TE Connectivity in a research note on Friday, November 3rd. Finally, Morgan Stanley lifted their target price on shares of TE Connectivity from $97.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. TE Connectivity currently has a consensus rating of “Buy” and a consensus price target of $137.09.
In other news, Chairman Thomas J. Lynch sold 130,617 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $93.34, for a total transaction of $12,191,790.78. Following the transaction, the chairman now owns 266,953 shares in the company, valued at approximately $24,917,393.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Thomas J. Lynch sold 52,650 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $94.32, for a total transaction of $4,965,948.00. Following the transaction, the insider now owns 136,336 shares in the company, valued at approximately $12,859,211.52. The disclosure for this sale can be found here. Insiders sold a total of 598,196 shares of company stock worth $58,835,804 in the last quarter. Insiders own 0.70% of the company’s stock.
TE Connectivity Ltd (NYSE:TEL) traded up $0.87 during mid-day trading on Wednesday, hitting $99.66. 837,400 shares of the company traded hands, compared to its average volume of 2,084,105. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 1.58. TE Connectivity Ltd has a 1-year low of $71.93 and a 1-year high of $108.23. The firm has a market cap of $34,710.00, a price-to-earnings ratio of 28.96, a PEG ratio of 1.65 and a beta of 1.11.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 24th. The electronics maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.25 by $0.15. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.39 billion. TE Connectivity had a net margin of 9.12% and a return on equity of 19.49%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 EPS. sell-side analysts anticipate that TE Connectivity Ltd will post 5.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.60 annualized dividend and a yield of 1.61%. TE Connectivity’s dividend payout ratio (DPR) is presently 46.51%.
TE Connectivity announced that its board has authorized a share buyback plan on Friday, December 8th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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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