Cubist Systematic Strategies LLC Sells 19,113 Shares of TE Connectivity Ltd. (NYSE:TEL)

Cubist Systematic Strategies LLC decreased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,680 shares of the electronics maker's stock after selling 19,113 shares during the quarter. Cubist Systematic Strategies LLC's holdings in TE Connectivity were worth $19,398,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TEL. Cetera Investment Advisers lifted its stake in TE Connectivity by 0.3% in the fourth quarter. Cetera Investment Advisers now owns 46,774 shares of the electronics maker's stock worth $6,687,000 after acquiring an additional 158 shares during the period. Centiva Capital LP purchased a new stake in TE Connectivity during the 4th quarter valued at about $417,000. Bridgefront Capital LLC purchased a new position in TE Connectivity in the fourth quarter worth approximately $839,000. Captrust Financial Advisors lifted its stake in TE Connectivity by 4.0% during the fourth quarter. Captrust Financial Advisors now owns 13,579 shares of the electronics maker's stock worth $1,941,000 after purchasing an additional 525 shares in the last quarter. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of TE Connectivity during the fourth quarter worth $5,595,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

Analysts Set New Price Targets

TEL has been the topic of several research reports. Wells Fargo & Company raised their price objective on TE Connectivity from $130.00 to $148.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. StockNews.com lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. UBS Group reiterated a "buy" rating and set a $163.00 target price (up from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Citigroup cut their target price 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. Finally, JPMorgan Chase & Co. raised their price target on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $159.50.

TE Connectivity Stock Down 0.0 %

Shares of NYSE:TEL opened at $149.91 on Tuesday. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week 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. The company has a market capitalization of $44.46 billion, a PE ratio of 23.95, a PEG ratio of 2.11 and a beta of 1.23. The company has a 50 day moving average price of $140.63 and a two-hundred day moving average price of $146.06.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. The business had revenue of $4.14 billion for 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 quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.89%. TE Connectivity's dividend payout ratio is currently 62.42%.

Insider Buying and Selling at TE Connectivity

In related news, 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 transaction of $3,669,250.00. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company's stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John S. Jenkins sold 30,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total transaction of $4,481,700.00. Following the completion of the transaction, the executive vice president now owns 24,625 shares in the company, valued at $3,678,728.75. This trade represents a 54.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company's stock.

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.

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