TE Connectivity Ltd (TEL) Holdings Trimmed by USA Financial Portformulas Corp
USA Financial Portformulas Corp reduced its stake in shares of TE Connectivity Ltd (NYSE:TEL) by 13.2% in the 4th quarter, HoldingsChannel reports. The fund owned 32,039 shares of the electronics maker’s stock after selling 4,858 shares during the quarter. USA Financial Portformulas Corp’s holdings in TE Connectivity were worth $3,045,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in TE Connectivity by 10.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 227,441 shares of the electronics maker’s stock worth $18,890,000 after acquiring an additional 22,345 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in TE Connectivity by 55.2% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 315,263 shares of the electronics maker’s stock worth $26,131,000 after acquiring an additional 112,161 shares in the last quarter. Hartford Investment Management Co. acquired a new position in TE Connectivity during the 3rd quarter worth $6,443,000. First Republic Investment Management Inc. grew its holdings in TE Connectivity by 1.0% during the 3rd quarter. First Republic Investment Management Inc. now owns 147,512 shares of the electronics maker’s stock worth $12,253,000 after acquiring an additional 1,516 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in TE Connectivity by 4.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 194,459 shares of the electronics maker’s stock worth $16,152,000 after acquiring an additional 8,735 shares in the last quarter. 87.51% of the stock is owned by institutional investors.
Several research analysts have weighed in on TEL shares. Wells Fargo & Co raised their price objective 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. Zacks Investment Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Monday, January 15th. SunTrust Banks restated a “hold” rating and issued a $102.00 price target on shares of TE Connectivity in a research report on Thursday, January 25th. ValuEngine upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Morgan Stanley raised their price target on shares of TE Connectivity from $97.00 to $102.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. TE Connectivity has an average rating of “Buy” and a consensus target price of $137.09.
TE Connectivity Ltd (NYSE TEL) traded down $0.58 during trading on Monday, hitting $100.80. 43,046 shares of the stock were exchanged, compared to its average volume of 1,885,919. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.03 and a current ratio of 1.58. TE Connectivity Ltd has a one year low of $71.93 and a one year high of $108.23. The company has a market cap of $35,605.30, a P/E ratio of 29.30, a P/E/G ratio of 1.69 and a beta of 1.06.
TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm posted $1.15 EPS. equities analysts expect that TE Connectivity Ltd will post 5.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be given a $0.40 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $1.60 annualized dividend and a yield of 1.59%. TE Connectivity’s dividend payout ratio is presently 46.24%.
TE Connectivity announced that its Board of Directors has authorized a stock buyback 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 purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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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