TE Connectivity Ltd (TEL) Shares Sold by Meyer Handelman Co.
Meyer Handelman Co. lowered its stake in shares of TE Connectivity Ltd (NYSE:TEL) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,731 shares of the electronics maker’s stock after selling 1,327 shares during the quarter. Meyer Handelman Co.’s holdings in TE Connectivity were worth $12,711,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. AllSquare Wealth Management LLC purchased a new stake in shares of TE Connectivity during the 3rd quarter worth about $113,000. Robecosam AG purchased a new stake in shares of TE Connectivity during the 3rd quarter worth about $155,000. BB&T Investment Services Inc. grew its holdings in shares of TE Connectivity by 87.3% during the 3rd quarter. BB&T Investment Services Inc. now owns 2,038 shares of the electronics maker’s stock worth $168,000 after purchasing an additional 950 shares during the period. Courier Capital LLC purchased a new stake in shares of TE Connectivity during the 4th quarter worth about $207,000. Finally, Armor Investment Advisors LLC purchased a new stake in shares of TE Connectivity during the 3rd quarter worth about $208,000. Institutional investors and hedge funds own 90.07% of the company’s stock.
A number of analysts have recently issued reports on TEL shares. Wells Fargo & Co boosted their target price on TE Connectivity from $112.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Zacks Investment Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a report on Monday, January 15th. Royal Bank of Canada reiterated a “buy” rating and set a $95.00 target price (up previously from $90.00) on shares of TE Connectivity in a report on Monday, October 30th. Stifel Nicolaus reiterated a “buy” rating and set a $98.00 target price on shares of TE Connectivity in a report on Friday, November 3rd. Finally, Morgan Stanley boosted their target price on TE Connectivity from $97.00 to $102.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. TE Connectivity has a consensus rating of “Buy” and a consensus target price of $137.09.
TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.15. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.39 billion. TE Connectivity had a return on equity of 19.49% and a net margin of 9.12%. TE Connectivity’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 EPS. equities analysts forecast that TE Connectivity Ltd will post 5.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Thursday, February 22nd. TE Connectivity’s dividend payout ratio is presently 46.24%.
TE Connectivity declared that its board has approved a stock buyback plan on Friday, December 8th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the electronics maker to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In other TE Connectivity news, insider Thomas J. Lynch sold 76,183 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $103.61, for a total value of $7,893,320.63. Following the completion of the transaction, the insider now owns 254,715 shares in the company, valued at approximately $26,391,021.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Eric Resch sold 48,950 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $93.75, for a total value of $4,589,062.50. Following the completion of the transaction, the senior vice president now owns 78,129 shares of the company’s stock, valued at approximately $7,324,593.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 764,702 shares of company stock valued at $74,389,656. 0.70% of the stock is owned by company insiders.
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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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