Flinton Capital Management LLC Increases Stake in TE Connectivity Ltd (TEL)
Flinton Capital Management LLC grew its holdings in TE Connectivity Ltd (NYSE:TEL) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,254 shares of the electronics maker’s stock after buying an additional 1,598 shares during the quarter. Flinton Capital Management LLC’s holdings in TE Connectivity were worth $1,070,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Avestar Capital LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at $116,000. Robecosam AG acquired a new stake in shares of TE Connectivity in the third quarter valued at $155,000. NuWave Investment Management LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at $192,000. BB&T Investment Services Inc. increased its stake in shares of TE Connectivity by 87.3% in the third quarter. BB&T Investment Services Inc. now owns 2,038 shares of the electronics maker’s stock valued at $168,000 after buying an additional 950 shares in the last quarter. Finally, Courier Capital LLC acquired a new stake in shares of TE Connectivity in the fourth quarter valued at $207,000. Institutional investors own 88.70% of the company’s stock.
TE Connectivity Ltd (NYSE TEL) opened at $104.44 on Friday. The stock has a market capitalization of $36,704.58, a PE ratio of 30.18, a P/E/G ratio of 1.74 and a beta of 1.06. TE Connectivity Ltd has a 1-year low of $71.93 and a 1-year high of $108.23. 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 declared that its Board of Directors has initiated a share buyback program on Friday, December 8th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, February 22nd. TE Connectivity’s dividend payout ratio (DPR) is currently 46.24%.
In other TE Connectivity news, insider Thomas J. Lynch sold 76,183 shares of the firm’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 transaction, the insider now owns 254,715 shares in the company, valued at $25,848,478.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Thomas J. Lynch sold 76,184 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $94.74, for a total value of $7,217,672.16. Following the transaction, the insider now owns 254,689 shares in the company, valued at approximately $24,129,235.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 428,934 shares of company stock worth $43,693,283. Company insiders own 0.70% of the company’s stock.
A number of analysts have recently weighed in on TEL shares. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a research note on Monday, January 15th. Morgan Stanley raised their price target on TE Connectivity from $102.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. ValuEngine upgraded TE Connectivity from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Wells Fargo raised their price target on TE Connectivity from $112.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Cross Research upgraded TE Connectivity from a “hold” rating to a “buy” rating in a report on Friday, December 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $137.09.
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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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