Alyeska Investment Group L.P. purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 333,887 shares of the electronics maker's stock, valued at approximately $47,736,000. Alyeska Investment Group L.P. owned approximately 0.11% of TE Connectivity as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker's stock valued at $4,629,225,000 after purchasing an additional 4,029,596 shares during the period. Wellington Management Group LLP bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $909,598,000. Geode Capital Management LLC raised its stake in TE Connectivity by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker's stock valued at $857,499,000 after acquiring an additional 33,340 shares during the period. Clearbridge Investments LLC boosted its position in TE Connectivity by 72.1% during the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker's stock worth $581,148,000 after purchasing an additional 1,702,825 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of TE Connectivity by 15.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker's stock valued at $536,083,000 after purchasing an additional 488,680 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.
Insider Buying and Selling at TE Connectivity
In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the sale, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John S. Jenkins sold 30,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were 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 owns 24,625 shares in the company, valued at approximately $3,678,728.75. This represents a 54.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.
TE Connectivity Stock Down 0.8 %
Shares of TEL traded down $1.20 during trading hours on Tuesday, reaching $148.65. The stock had a trading volume of 1,348,018 shares, compared to its average volume of 1,681,577. The company has a market capitalization of $44.08 billion, a price-to-earnings ratio of 23.75, a P/E/G ratio of 2.11 and a beta of 1.23. The firm has a 50-day simple moving average of $140.56 and a 200 day simple moving average of $146.08. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $159.98.
TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.14. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.86 earnings per share. Equities research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.
TE Connectivity Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.91%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is currently 62.42%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on TEL shares. Hsbc Global Res raised shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Citigroup cut their price target on shares of TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Finally, UBS Group reaffirmed a "buy" rating and set a $163.00 target price (up from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.50.
Check Out Our Latest Analysis on TEL
TE Connectivity Company Profile
(
Free Report)
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.
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