Dynamic Technology Lab Private Ltd decreased its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 66.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,500 shares of the electronics maker’s stock after selling 11,117 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in TE Connectivity were worth $484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Port Capital LLC raised its holdings in shares of TE Connectivity by 79.8% during the third quarter. Port Capital LLC now owns 187,505 shares of the electronics maker’s stock valued at $16,487,000 after acquiring an additional 83,215 shares in the last quarter. Laurion Capital Management LP bought a new position in shares of TE Connectivity during the third quarter valued at approximately $660,000. Renaissance Technologies LLC bought a new position in shares of TE Connectivity during the third quarter valued at approximately $38,918,000. GAM Holding AG raised its holdings in shares of TE Connectivity by 25.0% during the third quarter. GAM Holding AG now owns 7,986 shares of the electronics maker’s stock valued at $702,000 after acquiring an additional 1,596 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of TE Connectivity by 181.5% during the third quarter. Tower Research Capital LLC TRC now owns 16,809 shares of the electronics maker’s stock valued at $1,479,000 after acquiring an additional 10,837 shares in the last quarter. 91.68% of the stock is owned by institutional investors.

TEL opened at $72.01 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.41 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $25.04 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.14 and a beta of 1.17. TE Connectivity Ltd has a 12-month low of $71.67 and a 12-month high of $108.23.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.02. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.65 billion. TE Connectivity had a return on equity of 20.06% and a net margin of 17.69%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 earnings per share. On average, equities analysts predict that TE Connectivity Ltd will post 5.71 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 23rd were issued a $0.44 dividend. The ex-dividend date was Wednesday, November 21st. This represents a $1.76 dividend on an annualized basis and a yield of 2.44%. TE Connectivity’s dividend payout ratio (DPR) is 31.37%.

TE Connectivity declared that its board has initiated a share repurchase program on Friday, December 14th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the electronics maker to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

A number of equities analysts recently commented on TEL shares. Zacks Investment Research upgraded TE Connectivity from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. Morgan Stanley decreased their target price on TE Connectivity from $107.00 to $102.00 and set an “overweight” rating for the company in a report on Wednesday, October 3rd. SunTrust Banks restated a “hold” rating and set a $82.00 target price on shares of TE Connectivity in a report on Wednesday, October 31st. Robert W. Baird downgraded TE Connectivity from an “outperform” rating to a “neutral” rating in a report on Monday, October 1st. Finally, Royal Bank of Canada set a $103.00 price objective on TE Connectivity and gave the stock a “buy” rating in a report on Monday, October 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $105.64.

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TE Connectivity Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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