Dark Forest Capital Management LP Buys 10,873 Shares of TE Connectivity Ltd. (NYSE:TEL)

Dark Forest Capital Management LP increased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 537.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,895 shares of the electronics maker's stock after acquiring an additional 10,873 shares during the period. Dark Forest Capital Management LP's holdings in TE Connectivity were worth $1,844,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new position in TE Connectivity during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. grew its position 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 purchasing an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new position in shares of TE Connectivity during the 4th quarter worth about $43,000. Golden State Wealth Management LLC acquired a new stake in TE Connectivity in the 4th quarter valued at approximately $44,000. Finally, Hilltop National Bank bought a new position in TE Connectivity in the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Trading Down 0.4 %

TEL traded down $0.56 during mid-day trading on Monday, hitting $143.81. The stock had a trading volume of 382,429 shares, compared to its average volume of 1,680,857. The stock's fifty day simple moving average is $141.45 and its 200-day simple moving average is $146.06. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The firm has a market capitalization of $42.91 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. As a group, research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is currently 62.42%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TEL. JPMorgan Chase & Co. increased their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a report on Thursday. Citigroup reduced their price objective on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. UBS Group reissued a "buy" rating and issued a $163.00 price target (up previously from $155.00) on shares of TE Connectivity in a report on Thursday. Robert W. Baird lifted their target price on shares of TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, The Goldman Sachs Group dropped their target price on TE Connectivity from $190.00 to $170.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Four investment 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $159.50.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.90% of the company's stock.

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.