Voleon Capital Management LP Makes New $2.19 Million Investment in TE Connectivity Ltd. (NYSE:TEL)

Voleon Capital Management LP bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,309 shares of the electronics maker's stock, valued at approximately $2,189,000.

A number of other hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP purchased a new stake in TE Connectivity in the fourth quarter valued at $909,598,000. Vanguard Group Inc. grew its holdings in TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock worth $4,629,225,000 after acquiring an additional 4,029,596 shares during the period. Norges Bank purchased a new position in TE Connectivity during the fourth quarter valued at approximately $508,199,000. Clearbridge Investments LLC lifted its holdings in TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock valued at $581,148,000 after acquiring an additional 1,702,825 shares during the period. Finally, Amundi acquired a new position in TE Connectivity in the fourth quarter valued at approximately $159,992,000. Institutional investors and hedge funds own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TEL shares. HSBC raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a report on Thursday, April 24th. Wells Fargo & Company lifted their price target on TE Connectivity from $130.00 to $148.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Bank of America increased their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. UBS Group reissued a "buy" rating and issued a $163.00 price objective (up from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Finally, Vertical Research upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $159.50.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John S. Jenkins sold 30,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the sale, the executive vice president now directly owns 24,625 shares of the company's stock, valued at $3,678,728.75. The trade was a 54.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

TE Connectivity Stock Down 0.6 %

TE Connectivity stock traded down $0.93 during mid-day trading on Tuesday, reaching $148.93. 254,116 shares of the company's stock were exchanged, compared to its average volume of 1,678,399. The company has a market cap of $44.16 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.11 and a beta of 1.23. The company has a fifty day moving average of $140.63 and a 200-day moving average of $146.06. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, topping the consensus estimate of $1.96 by $0.14. The company had revenue of $4.14 billion during the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.86 EPS. Sell-side analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is currently 62.42%.

TE Connectivity Company 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.