Sensato Investors LLC bought a new position in TE Connectivity Ltd (NYSE:TEL) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 52,000 shares of the electronics maker’s stock, valued at approximately $4,942,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Avestar Capital LLC purchased a new position in shares of TE Connectivity in the fourth quarter worth approximately $116,000. Robecosam AG purchased a new position in shares of TE Connectivity in the third quarter worth approximately $155,000. NuWave Investment Management LLC purchased a new position in shares of TE Connectivity in the fourth quarter worth approximately $192,000. BB&T Investment Services Inc. increased 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 acquiring an additional 950 shares in the last quarter. Finally, Courier Capital LLC purchased a new position in shares of TE Connectivity in the fourth quarter worth approximately $207,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of TE Connectivity Ltd (TEL) opened at $104.62 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34. The company has a market cap of $36,960.96, a P/E ratio of 20.72, 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 firm 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 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, February 22nd. TE Connectivity’s dividend payout ratio (DPR) is presently 46.24%.
TE Connectivity announced that its board has initiated a share buyback plan on Friday, December 8th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the electronics maker to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Several research analysts have recently weighed in on the stock. ValuEngine raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. SunTrust Banks reissued a “hold” rating and issued a $102.00 target price on shares of TE Connectivity in a research report on Thursday, January 25th. Stifel Nicolaus restated a “buy” rating and set a $115.00 price target on shares of TE Connectivity in a report 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 report on Wednesday, January 24th. Finally, Citigroup raised their price target on shares of TE Connectivity from $106.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. TE Connectivity presently has a consensus rating of “Buy” and an average price target of $137.09.
In other TE Connectivity news, SVP Robert J. Ott sold 10,700 shares of TE Connectivity stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $105.14, for a total value of $1,124,998.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas J. Lynch sold 76,183 shares of TE Connectivity stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $101.48, for a total transaction of $7,731,050.84. Following the completion of the sale, the insider now owns 254,715 shares of the company’s stock, valued at $25,848,478.20. The disclosure for this sale can be found here. Insiders sold 428,934 shares of company stock valued at $43,693,283 over the last quarter. Corporate insiders own 0.70% of the company’s stock.
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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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