Sage Capital Advisors llc Acquires 2,822 Shares of TE Connectivity Ltd. (TEL)

Sage Capital Advisors llc grew its holdings in TE Connectivity Ltd. (NYSE:TEL) by 22.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,649 shares of the electronics maker’s stock after acquiring an additional 2,822 shares during the period. Sage Capital Advisors llc’s holdings in TE Connectivity were worth $1,300,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Prudential Financial Inc. raised its position in shares of TE Connectivity by 4.6% during the 2nd quarter. Prudential Financial Inc. now owns 511,865 shares of the electronics maker’s stock valued at $40,273,000 after purchasing an additional 22,478 shares during the period. Calamos Advisors LLC raised its position in shares of TE Connectivity by 2.7% during the 2nd quarter. Calamos Advisors LLC now owns 57,157 shares of the electronics maker’s stock valued at $4,497,000 after purchasing an additional 1,512 shares during the period. Swiss National Bank raised its position in shares of TE Connectivity by 3.0% during the 2nd quarter. Swiss National Bank now owns 1,297,509 shares of the electronics maker’s stock valued at $102,088,000 after purchasing an additional 38,400 shares during the period. Vanguard Group Inc. raised its position in shares of TE Connectivity by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock valued at $1,834,196,000 after purchasing an additional 521,884 shares during the period. Finally, Atlantic Trust Group LLC raised its position in shares of TE Connectivity by 5.0% during the 2nd quarter. Atlantic Trust Group LLC now owns 177,785 shares of the electronics maker’s stock valued at $13,989,000 after purchasing an additional 8,438 shares during the period. Institutional investors and hedge funds own 90.22% of the company’s stock.

In related news, CFO Heath A. Mitts sold 10,736 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $93.14, for a total transaction of $999,951.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert J. Ott sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $95.78, for a total transaction of $1,915,600.00. Following the transaction, the senior vice president now directly owns 31,390 shares of the company’s stock, valued at $3,006,534.20. The disclosure for this sale can be found here. Insiders have sold 759,805 shares of company stock valued at $69,542,539 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Several analysts have recently commented on TEL shares. Stifel Nicolaus restated a “buy” rating and set a $87.00 price objective on shares of TE Connectivity in a research report on Tuesday, October 17th. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Monday, September 4th. Royal Bank of Canada restated a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of TE Connectivity in a research report on Monday, October 30th. Citigroup raised their price objective on shares of TE Connectivity from $92.00 to $106.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Cross Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. TE Connectivity has an average rating of “Buy” and a consensus target price of $151.93.

TE Connectivity Ltd. (NYSE TEL) traded up $0.24 on Friday, reaching $95.51. 1,396,800 shares of the company traded hands, compared to its average volume of 1,446,727. The stock has a market capitalization of $33,500.47, a PE ratio of 19.73, a price-to-earnings-growth ratio of 1.66 and a beta of 1.08. TE Connectivity Ltd. has a 52 week low of $66.20 and a 52 week high of $96.78. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.37.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.09. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. TE Connectivity’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company posted $1.22 earnings per share. analysts anticipate that TE Connectivity Ltd. will post 5.27 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has approved a share repurchase program on Friday, December 8th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the electronics maker to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $1.60 annualized dividend and a yield of 1.68%. TE Connectivity’s payout ratio is 33.97%.

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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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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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