TE Connectivity Ltd (TEL) Position Trimmed by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL trimmed its position in shares of TE Connectivity Ltd (NYSE:TEL) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,050 shares of the electronics maker’s stock after selling 6,800 shares during the period. Gamco Investors INC. ET AL’s holdings in TE Connectivity were worth $3,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AllSquare Wealth Management LLC acquired a new position in TE Connectivity during the third quarter worth $113,000. Robecosam AG acquired a new position in TE Connectivity during the third quarter worth $155,000. BB&T Investment Services Inc. increased its holdings in TE Connectivity by 87.3% during the third quarter. BB&T Investment Services Inc. now owns 2,038 shares of the electronics maker’s stock worth $168,000 after buying an additional 950 shares during the last quarter. Courier Capital LLC acquired a new position in TE Connectivity during the fourth quarter worth $207,000. Finally, Armor Investment Advisors LLC acquired a new position in TE Connectivity during the third quarter worth $208,000. Institutional investors and hedge funds own 90.07% of the company’s stock.

A number of brokerages recently weighed in on TEL. Royal Bank of Canada restated a “buy” rating and set a $116.00 target price on shares of TE Connectivity in a report on Wednesday, January 24th. Morgan Stanley boosted their target price on shares of TE Connectivity from $102.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. ValuEngine raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $115.00 price objective on shares of TE Connectivity in a research report on Wednesday, January 24th. Finally, Zacks Investment Research raised shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. TE Connectivity presently has a consensus rating of “Buy” and a consensus price target of $137.09.

In other news, Chairman Thomas J. Lynch sold 60,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $93.05, for a total value of $5,583,000.00. Following the completion of the sale, the chairman now owns 167,336 shares of the company’s stock, valued at $15,570,614.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Joseph B. Donahue sold 8,843 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $93.25, for a total transaction of $824,609.75. Following the completion of the sale, the chief operating officer now directly owns 44,480 shares of the company’s stock, valued at approximately $4,147,760. The disclosure for this sale can be found here. In the last three months, insiders sold 764,702 shares of company stock valued at $74,389,656. 0.70% of the stock is currently owned by company insiders.

TE Connectivity Ltd (TEL) opened at $96.40 on Friday. 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 Ltd has a 52-week low of $71.93 and a 52-week high of $108.23. The company has a market cap of $33,459.43, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 1.59 and a beta of 1.11.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. TE Connectivity had a net margin of 9.12% and a return on equity of 19.49%. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the business posted $1.15 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. equities analysts predict that TE Connectivity Ltd will post 5.48 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.66%. TE Connectivity’s payout ratio is presently 46.24%.

TE Connectivity announced that its Board of Directors has initiated a share buyback plan on Friday, December 8th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the electronics maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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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.

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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