Raymond James & Associates lowered its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 4.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,387,528 shares of the electronics maker’s stock after selling 64,255 shares during the period. Raymond James & Associates owned about 0.40% of TE Connectivity worth $131,871,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of TE Connectivity by 5.7% during the fourth quarter. Victory Capital Management Inc. now owns 9,550 shares of the electronics maker’s stock valued at $908,000 after acquiring an additional 516 shares during the last quarter. Advisor Partners LLC raised its stake in TE Connectivity by 7.7% during the fourth quarter. Advisor Partners LLC now owns 7,770 shares of the electronics maker’s stock worth $783,000 after buying an additional 556 shares during the last quarter. Naples Global Advisors LLC raised its stake in TE Connectivity by 8.6% during the fourth quarter. Naples Global Advisors LLC now owns 7,499 shares of the electronics maker’s stock worth $713,000 after buying an additional 592 shares during the last quarter. Schroder Investment Management Group raised its stake in TE Connectivity by 23.8% during the third quarter. Schroder Investment Management Group now owns 3,259 shares of the electronics maker’s stock worth $269,000 after buying an additional 626 shares during the last quarter. Finally, Walter & Keenan Financial Consulting Co. MI ADV raised its stake in TE Connectivity by 15.8% during the third quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 4,864 shares of the electronics maker’s stock worth $404,000 after buying an additional 665 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on TEL. SunTrust Banks reissued a “hold” rating and set a $102.00 target price on shares of TE Connectivity in a research note on Thursday, January 25th. Stifel Nicolaus reissued a “buy” rating and set a $115.00 target price on shares of TE Connectivity in a research note on Wednesday, January 24th. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a research note on Tuesday, January 23rd. Citigroup lifted their target price on shares of TE Connectivity from $106.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, ValuEngine raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $137.09.
Shares of TE Connectivity Ltd (NYSE:TEL) opened at $105.75 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.34. The company has a market cap of $37,140.07, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 1.76 and a beta of 1.06. TE Connectivity Ltd has a twelve month low of $71.93 and a twelve month high of $108.23.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.15. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations 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 period last year, the company posted $1.15 earnings per share. equities analysts predict 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. Shareholders of record on Friday, February 23rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, February 22nd. TE Connectivity’s payout ratio is 46.24%.
TE Connectivity declared that its Board of Directors has initiated a share repurchase plan on Friday, December 8th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the electronics maker to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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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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