Goldman Sachs Group Inc. boosted its stake in TE Connectivity Ltd (NYSE:TEL) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,077,914 shares of the electronics maker’s stock after acquiring an additional 69,706 shares during the period. Goldman Sachs Group Inc. owned 0.59% of TE Connectivity worth $197,484,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in TE Connectivity by 10.9% in the third quarter. Russell Investments Group Ltd. now owns 227,441 shares of the electronics maker’s stock worth $18,890,000 after acquiring an additional 22,345 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in TE Connectivity by 55.2% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 315,263 shares of the electronics maker’s stock worth $26,131,000 after acquiring an additional 112,161 shares during the period. Hartford Investment Management Co. bought a new stake in TE Connectivity in the third quarter worth about $6,443,000. First Republic Investment Management Inc. raised its position in TE Connectivity by 1.0% in the third quarter. First Republic Investment Management Inc. now owns 147,512 shares of the electronics maker’s stock worth $12,253,000 after acquiring an additional 1,516 shares during the period. Finally, Teacher Retirement System of Texas raised its position in TE Connectivity by 4.7% in the third quarter. Teacher Retirement System of Texas now owns 194,459 shares of the electronics maker’s stock worth $16,152,000 after acquiring an additional 8,735 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have commented on TEL. ValuEngine raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. SunTrust Banks reaffirmed a “hold” rating and issued a $102.00 price objective on shares of TE Connectivity in a research report on Thursday, January 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $115.00 price objective on shares of TE Connectivity in a research report on Wednesday, January 24th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $116.00 price objective on shares of TE Connectivity in a research report on Wednesday, January 24th. Finally, Citigroup lifted their price objective on shares of TE Connectivity from $106.00 to $119.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $137.09.
TE Connectivity Ltd (NYSE TEL) opened at $105.75 on Monday. The firm has a market cap of $37,140.07, a PE ratio of 20.82, a PEG ratio of 1.76 and a beta of 1.06. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 1.03. TE Connectivity Ltd has a 12 month low of $71.93 and a 12 month high of $108.23.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.15. The firm had revenue of $3.48 billion during 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 company’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the company earned $1.15 earnings per share. equities research analysts expect that TE Connectivity Ltd will post 5.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.51%. TE Connectivity’s payout ratio is 46.24%.
TE Connectivity declared that its Board of Directors has approved a stock repurchase plan on Friday, December 8th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the electronics maker to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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TE Connectivity Company 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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