Two Sigma Investments LP acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 282,937 shares of the electronics maker’s stock, valued at approximately $26,890,000. Two Sigma Investments LP owned approximately 0.08% of TE Connectivity at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Avestar Capital LLC purchased a new stake in TE Connectivity during the 4th quarter worth approximately $116,000. Robecosam AG acquired a new position in shares of TE Connectivity in the 3rd quarter worth approximately $155,000. NuWave Investment Management LLC acquired a new position in shares of TE Connectivity in the 4th quarter worth approximately $192,000. 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 worth $168,000 after acquiring an additional 950 shares in the last quarter. Finally, Courier Capital LLC acquired a new position in shares of TE Connectivity in the 4th quarter worth approximately $207,000. Institutional investors and hedge funds own 91.76% of the company’s stock.
Shares of NYSE TEL opened at $95.91 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34. TE Connectivity Ltd. has a one year low of $71.93 and a one year high of $108.23. The stock has a market capitalization of $34,537.64, a price-to-earnings ratio of 19.86, a PEG ratio of 1.64 and a beta of 1.07.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.15. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.39 billion. TE Connectivity had a return on equity of 19.49% and a net margin of 9.12%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.15 EPS. equities research analysts anticipate that TE Connectivity Ltd. will post 5.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.67%. TE Connectivity’s dividend payout ratio (DPR) is presently 33.13%.
TE Connectivity declared that its board has approved a stock repurchase plan 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 plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts recently issued reports on TEL shares. Cross Research upgraded TE Connectivity from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. Morgan Stanley boosted their price objective on TE Connectivity from $97.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Stifel Nicolaus boosted their price target on TE Connectivity from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Zacks Investment Research lowered TE Connectivity from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. Finally, ValuEngine raised TE Connectivity from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $135.67.
In related news, EVP John S. Jenkins sold 36,550 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 53,287 shares of the company’s stock, valued at approximately $5,507,211.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas J. Lynch sold 76,183 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $103.61, for a total value of $7,893,320.63. Following the transaction, the insider now directly owns 254,715 shares of the company’s stock, valued at approximately $26,391,021.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 352,750 shares of company stock valued at $36,475,611. 0.70% of the stock is currently owned by corporate insiders.
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About TE Connectivity
TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation Solutions, Industrial Solutions, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.
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