Catalyst Capital Advisors LLC purchased a new stake in shares of TE Connectivity Ltd (NYSE:TEL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,750 shares of the electronics maker’s stock, valued at approximately $356,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. AllSquare Wealth Management LLC bought a new position in TE Connectivity during the third quarter valued at approximately $113,000. Robecosam AG bought a new position in TE Connectivity during the third quarter valued at approximately $155,000. NuWave Investment Management LLC bought a new position in TE Connectivity during the fourth quarter valued at approximately $192,000. BB&T Investment Services Inc. boosted its stake in shares of 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 valued at $168,000 after purchasing an additional 950 shares during the period. Finally, Courier Capital LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at approximately $207,000. Institutional investors and hedge funds own 89.58% of the company’s stock.
In related news, insider Terrence R. Curtin sold 142,450 shares of the firm’s stock in a transaction 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 sale, the insider now owns 200,258 shares of the company’s stock, valued at $20,874,893.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joan Wainwright sold 63,562 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $94.79, for a total value of $6,025,041.98. Following the completion of the sale, the insider now directly owns 61,292 shares of the company’s stock, valued at approximately $5,809,868.68. The disclosure for this sale can be found here. Insiders sold 598,196 shares of company stock valued at $58,835,804 in the last ninety days. 0.70% of the stock is currently owned by insiders.
Shares of TE Connectivity Ltd (TEL) opened at $99.74 on Thursday. TE Connectivity Ltd has a 52 week low of $71.93 and a 52 week high of $108.23. The company has a market capitalization of $34,695.68, a price-to-earnings ratio of 19.45, a P/E/G ratio of 1.65 and a beta of 1.11. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.34.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.15. TE Connectivity had a return on equity of 19.49% and a net margin of 9.12%. The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm posted $1.15 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. analysts expect that TE Connectivity Ltd will post 5.48 EPS for the current fiscal year.
TE Connectivity announced that its Board of Directors has approved 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 buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, February 22nd. TE Connectivity’s payout ratio is 46.24%.
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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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