Cornercap Investment Counsel Inc. lessened its holdings in TE Connectivity Ltd (NYSE:TEL) by 4.2% in the 4th quarter, HoldingsChannel reports. The firm owned 40,825 shares of the electronics maker’s stock after selling 1,800 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in TE Connectivity were worth $3,880,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. increased its stake 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 buying an additional 22,345 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake 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 buying an additional 112,161 shares in the last quarter. Hartford Investment Management Co. purchased a new stake in TE Connectivity during the 3rd quarter worth approximately $6,443,000. First Republic Investment Management Inc. increased its stake 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 buying an additional 1,516 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake 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 buying an additional 8,735 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.
In related news, insider Thomas J. Lynch sold 76,184 shares of the company’s stock in a transaction that occurred on 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 directly owns 254,689 shares in the company, valued at $24,129,235.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven T. Merkt sold 10,684 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $102.94, for a total value of $1,099,810.96. Following the completion of the transaction, the insider now owns 1,983 shares in the company, valued at $204,130.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 428,934 shares of company stock worth $43,693,283. Insiders own 0.70% of the company’s stock.
TE Connectivity Ltd (NYSE:TEL) opened at $105.75 on Monday. The firm has a market capitalization of $37,140.04, a P/E ratio of 30.56, a PEG ratio of 1.76 and a beta of 1.06. TE Connectivity Ltd has a twelve month low of $71.93 and a twelve month high of $108.23. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34.
TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.15. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.39 billion. TE Connectivity had a return on equity of 19.49% and a net margin of 9.12%. The business’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 firm posted $1.15 EPS. research analysts predict that TE Connectivity Ltd will post 5.49 earnings per share for the current year.
TE Connectivity declared that its board has approved a share repurchase plan on Friday, December 8th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Thursday, February 22nd. TE Connectivity’s dividend payout ratio is currently 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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