UBS Asset Management Americas Inc. trimmed its stake in TE Connectivity Ltd (NYSE:TEL) by 20.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,168,005 shares of the electronics maker’s stock after selling 293,068 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.33% of TE Connectivity worth $111,007,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of TEL. AllSquare Wealth Management LLC purchased a new position in shares of TE Connectivity in the 3rd quarter valued at $113,000. Robecosam AG purchased a new position in shares of TE Connectivity in the 3rd quarter valued at $155,000. BB&T Investment Services Inc. grew its position in shares of TE Connectivity by 87.3% in the 3rd quarter. BB&T Investment Services Inc. now owns 2,038 shares of the electronics maker’s stock valued at $168,000 after buying an additional 950 shares during the last quarter. NuWave Investment Management LLC purchased a new position in shares of TE Connectivity in the 4th quarter valued at $192,000. Finally, Courier Capital LLC purchased a new position in shares of TE Connectivity in the 4th quarter valued at $207,000. 87.19% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Thomas J. Lynch sold 52,650 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $94.32, for a total value of $4,965,948.00. Following the completion of the sale, the insider now owns 136,336 shares in the company, valued at approximately $12,859,211.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 36,550 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $103.35, for a total transaction of $3,777,442.50. Following the completion of the sale, the executive vice president now owns 53,287 shares of the company’s stock, valued at approximately $5,507,211.45. The disclosure for this sale can be found here. Insiders sold a total of 514,634 shares of company stock valued at $50,895,162 in the last 90 days. Company insiders own 0.70% of the company’s stock.
TEL has been the topic of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $98.00 target price on shares of TE Connectivity in a research report on Friday, November 3rd. Cross Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. Zacks Investment Research raised shares of TE Connectivity from a “sell” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Thursday, November 2nd. Citigroup increased their target price on shares of TE Connectivity from $92.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Royal Bank of Canada reissued a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of TE Connectivity in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $137.09.
TE Connectivity Ltd (NYSE:TEL) opened at $102.51 on Wednesday. TE Connectivity Ltd has a 52-week low of $71.93 and a 52-week high of $108.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 1.58. The stock has a market cap of $35,858.17, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 1.71 and a beta of 1.11.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.15. TE Connectivity had a net margin of 9.12% and a return on equity of 19.49%. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the firm posted $1.15 EPS. TE Connectivity’s revenue for the quarter was up 13.6% on a year-over-year basis. equities analysts anticipate that TE Connectivity Ltd will post 5.48 earnings per share for the current fiscal year.
TE Connectivity announced that its board has approved a stock buyback 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. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, February 22nd. TE Connectivity’s dividend payout ratio (DPR) is presently 46.24%.
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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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