Sigma Investment Counselors Inc. bought a new position in shares of TE Connectivity Ltd (NYSE:TEL) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,209 shares of the electronics maker’s stock, valued at approximately $210,000.
Several other hedge funds have also made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new position in shares of TE Connectivity during the 4th quarter worth approximately $356,000. Boston Common Asset Management LLC raised its stake in TE Connectivity by 13.0% in the 4th quarter. Boston Common Asset Management LLC now owns 19,865 shares of the electronics maker’s stock valued at $1,888,000 after purchasing an additional 2,282 shares during the last quarter. Ffcm LLC raised its stake in TE Connectivity by 23.3% in the 4th quarter. Ffcm LLC now owns 15,705 shares of the electronics maker’s stock valued at $1,493,000 after purchasing an additional 2,970 shares during the last quarter. NuWave Investment Management LLC acquired a new position in TE Connectivity in the 4th quarter valued at $192,000. Finally, Wealthstreet Investment Advisors LLC acquired a new position in TE Connectivity in the 4th quarter valued at $887,000. 89.58% of the stock is owned by institutional investors and hedge funds.
Shares of TE Connectivity Ltd (NYSE TEL) opened at $98.70 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $33,856.30, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 1.61 and a beta of 1.11. TE Connectivity Ltd has a twelve month low of $71.93 and a twelve month high of $108.23.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, February 22nd. TE Connectivity’s payout ratio is currently 46.24%.
TE Connectivity announced that its Board of Directors has initiated a stock buyback plan on Friday, December 8th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the electronics maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
TEL has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 price objective on shares of TE Connectivity in a research note on Tuesday, October 17th. Cross Research raised TE Connectivity from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Royal Bank of Canada reissued a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of TE Connectivity in a research note on Monday, October 30th. Zacks Investment Research raised TE Connectivity from a “sell” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Thursday, November 2nd. Finally, Citigroup increased their price objective on TE Connectivity from $92.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. TE Connectivity presently has a consensus rating of “Buy” and an average target price of $137.09.
In other TE Connectivity news, Chairman Thomas J. Lynch sold 60,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $93.05, for a total value of $5,583,000.00. Following the completion of the sale, the chairman now directly owns 167,336 shares in the company, valued at approximately $15,570,614.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Joseph B. Donahue sold 1,238 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $93.23, for a total value of $115,418.74. Following the completion of the sale, the chief operating officer now owns 52,134 shares of the company’s stock, valued at $4,860,452.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 659,434 shares of company stock valued at $64,534,223. 0.70% of the stock is owned by company insiders.
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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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