Cove Street Capital LLC Sells 2,700 Shares of TE Connectivity Ltd (TEL)
Cove Street Capital LLC reduced its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,616 shares of the electronics maker’s stock after selling 2,700 shares during the period. Cove Street Capital LLC’s holdings in TE Connectivity were worth $4,811,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Invictus RG acquired a new stake in shares of TE Connectivity during the 4th quarter valued at about $673,000. ETRADE Capital Management LLC boosted its position in shares of TE Connectivity by 8.9% during the 4th quarter. ETRADE Capital Management LLC now owns 19,524 shares of the electronics maker’s stock valued at $1,856,000 after acquiring an additional 1,591 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in shares of TE Connectivity by 72.1% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 450,736 shares of the electronics maker’s stock valued at $42,840,000 after acquiring an additional 188,814 shares in the last quarter. W. E. Donoghue & Co. LLC acquired a new stake in shares of TE Connectivity during the 4th quarter valued at about $2,594,000. Finally, WINTON GROUP Ltd boosted its position in shares of TE Connectivity by 85.3% during the 4th quarter. WINTON GROUP Ltd now owns 23,939 shares of the electronics maker’s stock valued at $2,275,000 after acquiring an additional 11,019 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.
In other TE Connectivity news, SVP Robert J. Ott sold 10,700 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $105.14, for a total value of $1,124,998.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas J. Lynch sold 76,183 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $101.48, for a total transaction of $7,731,050.84. Following the completion of the transaction, the insider now directly owns 254,715 shares of the company’s stock, valued at $25,848,478.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 428,934 shares of company stock worth $43,693,283. Company insiders own 0.70% of the company’s stock.
TE Connectivity Ltd (TEL) opened at $101.38 on Monday. The company has a market cap of $35,605.30, a PE ratio of 29.30, a price-to-earnings-growth ratio of 1.69 and a beta of 1.06. TE Connectivity Ltd has a 12-month low of $71.93 and a 12-month high of $108.23. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 1.03.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.15. The firm 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%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.15 earnings per share. equities research analysts predict that TE Connectivity Ltd will post 5.49 EPS for the current year.
TE Connectivity declared that its Board of Directors has authorized a share buyback program 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. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.58%. TE Connectivity’s dividend payout ratio (DPR) is presently 46.24%.
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About TE Connectivity
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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