Westwood Holdings Group Inc. lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 13.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 677,315 shares of the electronics maker’s stock after selling 103,945 shares during the period. Westwood Holdings Group Inc. owned approximately 0.19% of TE Connectivity worth $64,372,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. raised its position in TE Connectivity by 4.2% in the fourth quarter. BlackRock Inc. now owns 17,425,074 shares of the electronics maker’s stock worth $1,656,081,000 after purchasing an additional 694,901 shares in the last quarter. Boston Partners raised its position in TE Connectivity by 2.6% in the fourth quarter. Boston Partners now owns 12,746,402 shares of the electronics maker’s stock worth $1,211,419,000 after purchasing an additional 318,066 shares in the last quarter. Janus Henderson Group PLC raised its position in 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 in the last quarter. Wells Fargo & Company MN raised its position in TE Connectivity by 8.7% in the fourth quarter. Wells Fargo & Company MN now owns 3,900,641 shares of the electronics maker’s stock worth $370,717,000 after purchasing an additional 313,244 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in TE Connectivity by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 3,605,770 shares of the electronics maker’s stock worth $341,957,000 after purchasing an additional 105,388 shares in the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP John S. Jenkins sold 36,550 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $103.35, for a total value 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 $5,507,211.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Terrence R. Curtin sold 142,450 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $104.24, for a total transaction of $14,848,988.00. Following the completion of the sale, the insider now directly owns 200,258 shares of the company’s stock, valued at approximately $20,874,893.92. The disclosure for this sale can be found here. In the last three months, insiders sold 352,750 shares of company stock valued at $36,475,611. 0.70% of the stock is currently owned by company insiders.
TEL has been the subject of several recent research reports. Wells Fargo increased 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 target for the company in a research report on Monday, January 15th. SunTrust Banks reaffirmed a “hold” rating and set a $102.00 price objective on shares of TE Connectivity in a report on Thursday, January 25th. ValuEngine raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Morgan Stanley raised their price objective on shares of TE Connectivity from $97.00 to $102.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. TE Connectivity currently has an average rating of “Buy” and an average target price of $135.67.
Shares of TE Connectivity stock traded down $2.88 during midday trading on Friday, reaching $95.91. The company had a trading volume of 1,162,085 shares, compared to its average volume of 1,312,588. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 1.03. The firm has a market cap of $33,684.17, a P/E ratio of 19.86, a P/E/G ratio of 1.60 and a beta of 1.07. TE Connectivity Ltd. has a 1-year low of $71.93 and a 1-year high of $108.23.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.15. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.39 billion. TE Connectivity had a net margin of 9.12% and a return on equity of 19.49%. TE Connectivity’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 earnings per share. sell-side analysts expect that TE Connectivity Ltd. will post 5.49 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Thursday, February 22nd. TE Connectivity’s dividend payout ratio is currently 33.13%.
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TE Connectivity Profile
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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