Cornerstone Capital Management Holdings LLC. reduced its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 15.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 705,692 shares of the electronics maker’s stock after selling 131,352 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.20% of TE Connectivity worth $67,068,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of TE Connectivity by 4.2% during the 4th quarter. BlackRock Inc. now owns 17,425,074 shares of the electronics maker’s stock valued at $1,656,081,000 after buying an additional 694,901 shares in the last quarter. Boston Partners lifted its stake in shares of TE Connectivity by 2.6% during the 4th quarter. Boston Partners now owns 12,746,402 shares of the electronics maker’s stock valued at $1,211,419,000 after buying an additional 318,066 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of TE Connectivity by 17.7% during the 3rd quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock valued at $685,033,000 after buying an additional 1,239,920 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of TE Connectivity by 8.7% during the 4th quarter. Wells Fargo & Company MN now owns 3,900,641 shares of the electronics maker’s stock valued at $370,717,000 after buying an additional 313,244 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of TE Connectivity by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 3,605,770 shares of the electronics maker’s stock valued at $341,957,000 after buying an additional 105,388 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.
A number of brokerages recently commented on TEL. ValuEngine upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. SunTrust Banks restated a “hold” rating and set a $102.00 price target on shares of TE Connectivity in a research note on Thursday, January 25th. Stifel Nicolaus restated a “buy” rating and set a $115.00 price target on shares of TE Connectivity in a research note on Wednesday, January 24th. Royal Bank of Canada restated a “buy” rating and set a $116.00 price target on shares of TE Connectivity in a research note on Wednesday, January 24th. Finally, Citigroup upped their price target on shares of TE Connectivity from $106.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. TE Connectivity currently has a consensus rating of “Buy” and an average target price of $137.09.
Shares of TE Connectivity Ltd (NYSE:TEL) opened at $105.24 on Tuesday. TE Connectivity Ltd has a 52 week low of $71.93 and a 52 week high of $108.23. 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 stock has a market cap of $37,150.00, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 1.76 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last posted its earnings results 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 business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the company posted $1.15 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. equities analysts anticipate that TE Connectivity Ltd will post 5.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Thursday, February 22nd. TE Connectivity’s dividend payout ratio is presently 46.51%.
TE Connectivity declared that its Board of Directors has approved a share buyback program on Friday, December 8th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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TE Connectivity 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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