Goldman Sachs Group Inc. boosted its position in shares of TE Connectivity Ltd (NYSE:TEL) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,077,914 shares of the electronics maker’s stock after acquiring an additional 69,706 shares during the period. Goldman Sachs Group Inc.’s holdings in TE Connectivity were worth $197,484,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Baker Avenue Asset Management LP purchased a new position in TE Connectivity in the 4th quarter worth approximately $1,322,000. Deutsche Bank AG grew its stake in TE Connectivity by 6.4% in the 4th quarter. Deutsche Bank AG now owns 1,170,806 shares of the electronics maker’s stock worth $111,269,000 after buying an additional 70,324 shares in the last quarter. Jefferies Group LLC grew its stake in TE Connectivity by 641.5% in the 4th quarter. Jefferies Group LLC now owns 29,016 shares of the electronics maker’s stock worth $2,758,000 after buying an additional 25,103 shares in the last quarter. Advisor Group Inc. grew its stake in TE Connectivity by 15.3% in the 4th quarter. Advisor Group Inc. now owns 20,787 shares of the electronics maker’s stock worth $1,975,000 after buying an additional 2,764 shares in the last quarter. Finally, Granite Springs Asset Management LLC purchased a new position in TE Connectivity in the 4th quarter worth approximately $272,000. 88.70% of the stock is owned by institutional investors.
In other news, insider Steven T. Merkt sold 10,684 shares of the business’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 sale, the insider now directly owns 1,983 shares in the company, valued at approximately $204,130.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Terrence R. Curtin sold 142,450 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $104.24, for a total transaction of $14,848,988.00. Following the completion of the sale, the insider now owns 200,258 shares of the company’s stock, valued at $20,874,893.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 428,934 shares of company stock valued at $43,693,283. Company insiders own 0.70% of the company’s stock.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. The firm had revenue of $3.48 billion during 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 business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.15 EPS. research analysts predict that TE Connectivity Ltd will post 5.49 earnings per share for the current year.
TE Connectivity announced that its board has approved a share buyback plan on Friday, December 8th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the electronics maker to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.51%. TE Connectivity’s payout ratio is 46.24%.
TEL has been the subject of a number of research reports. Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research note on Monday, January 15th. Morgan Stanley boosted their price target on shares of TE Connectivity from $102.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. ValuEngine raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Wells Fargo & Co boosted their price target on shares of TE Connectivity from $112.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Cross Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. TE Connectivity has an average rating of “Buy” and an average target price 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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