BT Investment Management Ltd Has $3.59 Million Position in TE Connectivity Ltd (TEL)
BT Investment Management Ltd lowered its position in shares of TE Connectivity Ltd (NYSE:TEL) by 40.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 37,739 shares of the electronics maker’s stock after selling 26,009 shares during the period. BT Investment Management Ltd’s holdings in TE Connectivity were worth $3,587,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TEL. AllSquare Wealth Management LLC acquired a new position in TE Connectivity during the third quarter valued at approximately $113,000. Robecosam AG acquired a new position in TE Connectivity during the third quarter valued at approximately $155,000. BB&T Investment Services Inc. grew its holdings in 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 valued at $168,000 after purchasing an additional 950 shares during the period. Courier Capital LLC acquired a new position in TE Connectivity during the fourth quarter valued at approximately $207,000. Finally, Armor Investment Advisors LLC acquired a new position in TE Connectivity during the third quarter valued at approximately $208,000. Hedge funds and other institutional investors own 90.07% of the company’s stock.
TE Connectivity Ltd (NYSE:TEL) opened at $96.40 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.34. TE Connectivity Ltd has a one year low of $71.93 and a one year high of $108.23. The firm has a market cap of $34,983.67, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 1.67 and a beta of 1.11.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.66%. 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 approved a share buyback program on Friday, December 8th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts recently issued reports on the stock. Royal Bank of Canada restated a “buy” rating and set a $116.00 price objective on shares of TE Connectivity in a report on Wednesday, January 24th. Morgan Stanley boosted their price objective on shares of TE Connectivity from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. ValuEngine upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Stifel Nicolaus restated a “buy” rating and set a $115.00 price objective on shares of TE Connectivity in a report on Wednesday, January 24th. Finally, Citigroup boosted their price objective on shares of TE Connectivity from $106.00 to $119.00 and gave the company a “buy” rating in a report on Thursday, January 25th. One research 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 stock has a consensus rating of “Buy” and a consensus price target of $137.09.
In other TE Connectivity news, SVP Eric Resch sold 48,950 shares of TE Connectivity stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $93.75, for a total value of $4,589,062.50. Following the transaction, the senior vice president now owns 78,129 shares of the company’s stock, valued at $7,324,593.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Joseph B. Donahue sold 8,843 shares of TE Connectivity stock in a transaction that occurred 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 directly 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 ninety days, insiders sold 764,702 shares of company stock worth $74,389,656. Insiders own 0.70% of the company’s stock.
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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