Guggenheim Capital LLC cut its stake in TE Connectivity Ltd (NYSE:TEL) by 14.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 620,338 shares of the electronics maker’s stock after selling 105,668 shares during the period. Guggenheim Capital LLC owned approximately 0.18% of TE Connectivity worth $58,955,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Robecosam AG purchased a new position in TE Connectivity in the third quarter valued at about $155,000. NuWave Investment Management LLC purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $192,000. BB&T Investment Services Inc. increased its stake in shares of TE Connectivity by 87.3% during the 3rd 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. Courier Capital LLC purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $207,000. Finally, Sigma Investment Counselors Inc. purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $210,000. 88.70% of the stock is owned by institutional investors.
In related news, insider Thomas J. Lynch sold 76,183 shares of the firm’s 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 sale, the insider now owns 254,715 shares in the company, valued at $25,848,478.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas J. Lynch sold 76,184 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $94.74, for a total transaction of $7,217,672.16. Following the sale, the insider now owns 254,689 shares in the company, valued at approximately $24,129,235.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 428,934 shares of company stock worth $43,693,283. 0.70% of the stock is owned by company insiders.
Shares of TE Connectivity Ltd (NYSE TEL) opened at $104.62 on Wednesday. TE Connectivity Ltd has a 1 year low of $71.93 and a 1 year high of $108.23. The stock 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. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 1.58.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the business earned $1.15 earnings per share. TE Connectivity’s revenue was up 13.6% compared to the same quarter last year. analysts forecast that TE Connectivity Ltd will post 5.49 EPS for the current year.
TE Connectivity announced that its Board of Directors has initiated 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 reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.53%. TE Connectivity’s dividend payout ratio (DPR) is currently 46.24%.
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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