Mackenzie Financial Corp acquired a new stake in TE Connectivity Ltd (NYSE:TEL) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 27,827 shares of the electronics maker’s stock, valued at approximately $2,645,000.
Other large investors have also recently bought and sold shares of the company. AllSquare Wealth Management LLC purchased a new position in TE Connectivity in the 3rd quarter valued at about $113,000. Robecosam AG purchased a new position in TE Connectivity in the 3rd quarter valued at about $155,000. BB&T Investment Services Inc. boosted its position in TE Connectivity by 87.3% in the 3rd 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 during the last quarter. NuWave Investment Management LLC purchased a new position in TE Connectivity in the 4th quarter valued at about $192,000. Finally, Courier Capital LLC purchased a new position in TE Connectivity in the 4th quarter valued at about $207,000. 87.51% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Co upped their target price on shares of TE Connectivity from $112.00 to $120.00 and gave the company an “outperform” rating in a research note 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 target price on the stock in a research note on Monday, January 15th. SunTrust Banks restated a “hold” rating and issued a $102.00 target price on shares of TE Connectivity in a research note on Thursday, January 25th. ValuEngine upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Morgan Stanley upped their target price on shares of TE Connectivity from $97.00 to $102.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $137.09.
Shares of TE Connectivity Ltd (NYSE TEL) opened at $105.75 on Friday. The stock has a market cap of $36,114.55, a PE ratio of 20.24, a PEG ratio of 1.71 and a beta of 1.06. 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 Ltd has a 12 month low of $71.93 and a 12 month high of $108.23.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.15. The business 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.15 EPS. sell-side analysts forecast that TE Connectivity Ltd will post 5.49 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.60 annualized dividend and a yield of 1.51%. TE Connectivity’s dividend payout ratio (DPR) is 46.24%.
TE Connectivity announced that its board has authorized a stock repurchase program on Friday, December 8th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the electronics maker to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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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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