Navalign LLC Raises Stake in TE Connectivity Ltd. (NYSE:TEL)

Navalign LLC boosted its position in TE Connectivity Ltd. (NYSE:TEL) by 1.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,998 shares of the electronics maker’s stock after purchasing an additional 106 shares during the period. Navalign LLC’s holdings in TE Connectivity were worth $1,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Cibc World Market Inc. boosted its position in TE Connectivity by 63.8% in the 1st quarter. Cibc World Market Inc. now owns 11,366 shares of the electronics maker’s stock worth $1,489,000 after purchasing an additional 4,427 shares in the last quarter. Cetera Investment Advisers boosted its position in TE Connectivity by 16.2% in the 1st quarter. Cetera Investment Advisers now owns 25,817 shares of the electronics maker’s stock worth $3,382,000 after purchasing an additional 3,598 shares in the last quarter. Dakota Wealth Management boosted its position in TE Connectivity by 23.0% in the 1st quarter. Dakota Wealth Management now owns 4,259 shares of the electronics maker’s stock worth $558,000 after purchasing an additional 797 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in TE Connectivity by 108.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,336 shares of the electronics maker’s stock worth $437,000 after purchasing an additional 1,739 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in TE Connectivity by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock worth $3,617,824,000 after purchasing an additional 308,580 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of recent analyst reports. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Robert W. Baird increased their target price on TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus increased their target price on TE Connectivity from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Wells Fargo & Company initiated coverage on TE Connectivity in a research report on Friday, December 15th. They set an “equal weight” rating and a $144.00 target price on the stock. Finally, Citigroup initiated coverage on TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 target price on the stock. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $146.67.

Insider Activity

In other news, insider Steven T. Merkt sold 99,777 shares of TE Connectivity stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the transaction, the insider now owns 30,459 shares in the company, valued at approximately $4,386,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.86% of the company’s stock.

TE Connectivity Trading Up 0.2 %

Shares of NYSE TEL traded up $0.31 during mid-day trading on Thursday, reaching $145.24. 1,543,662 shares of the company’s stock were exchanged, compared to its average volume of 2,182,256. The firm has a market capitalization of $45.14 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 2.02 and a beta of 1.40. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $146.84. The company’s 50-day moving average is $141.57 and its 200-day moving average is $133.36.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 24th. The electronics maker reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the business posted $1.53 EPS. TE Connectivity’s revenue for the quarter was down .3% on a year-over-year basis. Analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s payout ratio is presently 22.39%.

TE Connectivity announced that its Board of Directors has authorized a stock repurchase program on Tuesday, December 12th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the electronics maker to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

TE Connectivity Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.