Signition LP Acquires New Holdings in TE Connectivity Ltd (TEL)
Signition LP acquired a new stake in TE Connectivity Ltd (NYSE:TEL) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 4,107 shares of the electronics maker’s stock, valued at approximately $390,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Toronto Dominion Bank grew its stake in TE Connectivity by 13.0% in the fourth quarter. Toronto Dominion Bank now owns 151,573 shares of the electronics maker’s stock valued at $14,406,000 after acquiring an additional 17,456 shares during the period. Wells Fargo & Company MN grew its stake in TE Connectivity by 8.7% in 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 acquiring an additional 313,244 shares during the period. Bailard Inc. acquired a new position in TE Connectivity in the fourth quarter valued at about $2,188,000. Sei Investments Co. grew its stake in TE Connectivity by 3.4% in the fourth quarter. Sei Investments Co. now owns 737,939 shares of the electronics maker’s stock valued at $70,136,000 after acquiring an additional 24,601 shares during the period. Finally, New Mexico Educational Retirement Board grew its stake in TE Connectivity by 3.0% in the fourth quarter. New Mexico Educational Retirement Board now owns 34,000 shares of the electronics maker’s stock valued at $3,231,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 89.58% of the company’s stock.
TE Connectivity Ltd (NYSE TEL) opened at $98.50 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $34,710.00, a PE ratio of 28.72, a PEG ratio of 1.65 and a beta of 1.11. TE Connectivity Ltd has a 52-week low of $71.93 and a 52-week high of $108.23.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.62%. TE Connectivity’s dividend payout ratio is currently 46.51%.
TE Connectivity declared that its board has authorized a stock repurchase program 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. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have issued reports on TEL shares. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 target price on shares of TE Connectivity in a research note on Tuesday, October 17th. Zacks Investment Research cut TE Connectivity from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Royal Bank of Canada reissued a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of TE Connectivity in a research note on Monday, October 30th. SunTrust Banks boosted their target price on TE Connectivity to $90.00 and gave the company a “hold” rating in a research note on Thursday, November 2nd. They noted that the move was a valuation call. Finally, Citigroup boosted their target price on TE Connectivity from $92.00 to $106.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. TE Connectivity currently has an average rating of “Buy” and a consensus target price of $137.09.
In other news, EVP John S. Jenkins sold 36,550 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $103.35, for a total transaction of $3,777,442.50. Following the completion of the transaction, the executive vice president now directly owns 53,287 shares of the company’s stock, valued at $5,507,211.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert J. Ott sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $95.78, for a total value of $1,915,600.00. Following the transaction, the senior vice president now directly owns 31,390 shares of the company’s stock, valued at $3,006,534.20. The disclosure for this sale can be found here. Insiders have sold 598,196 shares of company stock valued at $58,835,804 over the last ninety days. 0.70% of the stock is owned by insiders.
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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