Profund Advisors LLC raised its stake in TE Connectivity Ltd (NYSE:TEL) by 32.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,152 shares of the electronics maker’s stock after buying an additional 2,945 shares during the quarter. Profund Advisors LLC’s holdings in TE Connectivity were worth $1,155,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in TEL. Robecosam AG bought a new position in TE Connectivity in the third quarter valued at approximately $155,000. BB&T Investment Services Inc. lifted its position in shares of TE Connectivity by 87.3% in the third quarter. BB&T Investment Services Inc. now owns 2,038 shares of the electronics maker’s stock worth $168,000 after purchasing an additional 950 shares in the last quarter. NuWave Investment Management LLC bought a new stake in shares of TE Connectivity in the fourth quarter worth $192,000. Courier Capital LLC bought a new stake in shares of TE Connectivity in the fourth quarter worth $207,000. Finally, Sigma Investment Counselors Inc. bought a new stake in shares of TE Connectivity in the fourth quarter worth $210,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
TEL has been the topic of a number of research reports. Cowen reissued an “outperform” rating and issued a $110.00 price objective (up previously from $95.00) on shares of TE Connectivity in a research report on Thursday, December 7th. Cross Research raised shares of 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 shares of TE Connectivity from $97.00 to $102.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Stifel Nicolaus boosted their price objective on shares of TE Connectivity from $98.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Finally, Zacks Investment Research lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Friday, December 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. TE Connectivity currently has a consensus rating of “Buy” and an average target price of $137.09.
TE Connectivity Ltd (TEL) opened at $104.62 on Wednesday. The firm has a market cap of $36,760.00, a price-to-earnings ratio of 30.41, a P/E/G ratio of 1.76 and a beta of 1.06. TE Connectivity Ltd has a fifty-two week low of $71.93 and a fifty-two week high of $108.23. 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 (NYSE:TEL) last issued its earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. The business had revenue of $3.48 billion for 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 firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.15 earnings per share. analysts anticipate that TE Connectivity Ltd will post 5.49 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.53%. TE Connectivity’s payout ratio is 46.51%.
TE Connectivity declared that its Board of Directors has authorized a share buyback program on Friday, December 8th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the electronics maker to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management 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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