Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of TE Connectivity Ltd (NYSE:TEL) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,727 shares of the electronics maker’s stock after buying an additional 1,155 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in TE Connectivity were worth $5,208,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. AllSquare Wealth Management LLC bought a new stake in shares of TE Connectivity during the third quarter worth $113,000. Robecosam AG bought a new stake in shares of TE Connectivity during the third quarter worth $155,000. BB&T Investment Services Inc. grew its stake in shares of TE Connectivity by 87.3% during the third quarter. BB&T Investment Services Inc. now owns 2,038 shares of the electronics maker’s stock worth $168,000 after buying an additional 950 shares during the last quarter. Courier Capital LLC bought a new stake in shares of TE Connectivity during the fourth quarter worth $207,000. Finally, Armor Investment Advisors LLC bought a new stake in shares of TE Connectivity during the third quarter worth $208,000. 90.07% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on TEL. ValuEngine raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. SunTrust Banks reaffirmed a “hold” rating and set a $102.00 target price on shares of TE Connectivity in a research note on Thursday, January 25th. Morgan Stanley boosted their target price on shares of TE Connectivity from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Wells Fargo & Co lifted their price target on shares of TE Connectivity from $112.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Citigroup lifted 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $137.09.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.15. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.39 billion. TE Connectivity had a net margin of 9.12% and a return on equity of 19.49%. TE Connectivity’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 earnings per share. research analysts forecast that TE Connectivity Ltd will post 5.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.68%. TE Connectivity’s dividend payout ratio (DPR) is presently 46.24%.
TE Connectivity declared that its board has initiated a stock repurchase plan on Friday, December 8th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP John S. Jenkins sold 36,550 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $103.35, for a total value of $3,777,442.50. Following the transaction, the executive vice president now owns 53,287 shares in the company, valued at $5,507,211.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Joseph B. Donahue sold 8,843 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $93.25, for a total transaction of $824,609.75. Following the completion of the transaction, the chief operating officer now owns 44,480 shares in the company, valued at approximately $4,147,760. The disclosure for this sale can be found here. In the last quarter, insiders have sold 764,702 shares of company stock worth $74,389,656. 0.70% of the stock is owned by company insiders.
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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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