Crestline Management LP Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Crestline Management LP acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,936 shares of the electronics maker's stock, valued at approximately $2,707,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. grew its stake in shares of TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 107 shares in the last quarter. Fairway Wealth LLC bought a new position in TE Connectivity during the fourth quarter worth about $43,000. Golden State Wealth Management LLC acquired a new stake in TE Connectivity in the 4th quarter worth about $44,000. Finally, Hilltop National Bank bought a new stake in TE Connectivity in the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 91.43% of the company's stock.

Insider Activity

In related news, EVP John S. Jenkins sold 30,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 24,625 shares in the company, valued at $3,678,728.75. This represents a 54.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was 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 of the company's stock, valued at approximately $3,812,497.52. This represents a 49.04 % 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 Price Performance

Shares of TE Connectivity stock traded up $0.73 during midday trading on Friday, hitting $152.85. 2,077,251 shares of the company traded hands, compared to its average volume of 1,688,695. The firm's fifty day moving average price is $140.60 and its 200-day moving average price is $146.18. The stock has a market cap of $45.33 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.11 and a beta of 1.24. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

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. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the business earned $1.86 earnings per share. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, May 21st. TE Connectivity's payout ratio is 62.42%.

Analysts Set New Price Targets

TEL has been the subject of a number of analyst reports. Robert W. Baird lifted their price target on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. StockNews.com downgraded TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock in a research report on Thursday, April 24th. Wells Fargo & Company upped their price objective on shares of TE Connectivity from $130.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group decreased their target price on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $159.50.

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.