Norinchukin Bank The raised its position in shares of TE Connectivity Ltd (NYSE:TEL) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,654 shares of the electronics maker’s stock after buying an additional 1,802 shares during the quarter. Norinchukin Bank The’s holdings in TE Connectivity were worth $2,723,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. raised its stake in TE Connectivity by 4.2% during the fourth quarter. BlackRock Inc. now owns 17,425,074 shares of the electronics maker’s stock valued at $1,656,081,000 after buying an additional 694,901 shares in the last quarter. Boston Partners raised its stake in TE Connectivity by 2.6% during the fourth quarter. Boston Partners now owns 12,746,402 shares of the electronics maker’s stock valued at $1,211,419,000 after buying an additional 318,066 shares in the last quarter. Janus Henderson Group PLC raised its stake in TE Connectivity by 17.7% during the third quarter. Janus Henderson Group PLC now owns 8,247,518 shares of the electronics maker’s stock valued at $685,033,000 after buying an additional 1,239,920 shares in the last quarter. Wells Fargo & Company MN raised its stake in TE Connectivity by 8.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,900,641 shares of the electronics maker’s stock valued at $370,717,000 after buying an additional 313,244 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in TE Connectivity by 3.1% during the third quarter. Legal & General Group Plc now owns 1,905,176 shares of the electronics maker’s stock valued at $158,242,000 after buying an additional 57,732 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.
In related news, insider Thomas J. Lynch sold 52,650 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $94.32, for a total value of $4,965,948.00. Following the completion of the transaction, the insider now directly owns 136,336 shares of the company’s stock, valued at approximately $12,859,211.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Terrence R. Curtin sold 142,450 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $104.24, for a total value of $14,848,988.00. Following the completion of the transaction, the insider now directly owns 200,258 shares of the company’s stock, valued at $20,874,893.92. The disclosure for this sale can be found here. Insiders have sold 514,634 shares of company stock valued at $50,895,162 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.
TE Connectivity Ltd (NYSE TEL) opened at $102.51 on Wednesday. The company has a market capitalization of $35,858.17, a P/E ratio of 20.10, a PEG ratio of 1.71 and a beta of 1.11. TE Connectivity Ltd has a fifty-two week low of $71.93 and a fifty-two week 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 posted its earnings results on Wednesday, January 24th. The electronics maker reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.15. The company had revenue of $3.48 billion during the quarter, compared to analyst estimates 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 was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 earnings per share. sell-side analysts predict that TE Connectivity Ltd will post 5.48 EPS for the current fiscal year.
TE Connectivity declared that its Board of Directors has initiated a share repurchase program on Friday, December 8th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the electronics maker to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, February 22nd. TE Connectivity’s dividend payout ratio (DPR) is presently 46.24%.
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TE Connectivity Company 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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