Cable Hill Partners LLC reduced its position in TE Connectivity Ltd (NYSE:TEL) by 31.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,877 shares of the electronics maker’s stock after selling 853 shares during the period. Cable Hill Partners LLC’s holdings in TE Connectivity were worth $183,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in TE Connectivity by 10.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 227,441 shares of the electronics maker’s stock valued at $18,890,000 after acquiring an additional 22,345 shares during the period. BP PLC raised its stake in TE Connectivity by 88.9% in the 4th quarter. BP PLC now owns 85,000 shares of the electronics maker’s stock valued at $8,079,000 after acquiring an additional 40,000 shares during the period. Hartford Investment Management Co. bought a new stake in shares of TE Connectivity during the third quarter valued at about $6,443,000. First Republic Investment Management Inc. increased its position in shares of TE Connectivity by 1.0% during the third quarter. First Republic Investment Management Inc. now owns 147,512 shares of the electronics maker’s stock valued at $12,253,000 after buying an additional 1,516 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of TE Connectivity by 3.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,077,914 shares of the electronics maker’s stock valued at $197,484,000 after buying an additional 69,706 shares during the period. Institutional investors and hedge funds own 91.75% of the company’s stock.
TE Connectivity stock opened at $104.68 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 1.03. The firm has a market cap of $36,304.21, a P/E ratio of 30.25, a P/E/G ratio of 1.72 and a beta of 1.06. TE Connectivity Ltd has a 52-week low of $71.93 and a 52-week high of $108.23.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Thursday, February 22nd. TE Connectivity’s dividend payout ratio (DPR) is 46.24%.
TE Connectivity declared that its board has authorized a stock buyback program on Friday, December 8th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
TEL has been the topic of several analyst reports. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Monday, January 15th. Morgan Stanley upped their price target on TE Connectivity from $102.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. ValuEngine upgraded TE Connectivity from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Wells Fargo upped their price target on TE Connectivity from $112.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Cross Research upgraded TE Connectivity from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. One 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. The company currently has a consensus rating of “Buy” and a consensus target price of $137.09.
In related news, SVP Robert J. Ott sold 10,700 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $105.14, for a total value of $1,124,998.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven T. Merkt sold 10,684 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $102.94, for a total transaction 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 sold 428,934 shares of company stock worth $43,693,283. 0.70% of the stock is owned by company insiders.
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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