890,754 Shares in TE Connectivity Ltd. (NYSE:TEL) Acquired by Woodline Partners LP

Woodline Partners LP purchased a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 890,754 shares of the electronics maker's stock, valued at approximately $127,351,000. TE Connectivity comprises 0.9% of Woodline Partners LP's investment portfolio, making the stock its 10th largest position. Woodline Partners LP owned 0.30% of TE Connectivity at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Twinbeech Capital LP bought a new stake in TE Connectivity during the 4th quarter valued at $2,261,000. Tidal Investments LLC raised its stake in TE Connectivity by 277.5% during the 4th quarter. Tidal Investments LLC now owns 83,533 shares of the electronics maker's stock valued at $11,943,000 after acquiring an additional 61,405 shares in the last quarter. Teza Capital Management LLC bought a new stake in TE Connectivity during the 4th quarter valued at $4,586,000. State of Wyoming raised its stake in TE Connectivity by 110.3% during the 4th quarter. State of Wyoming now owns 2,583 shares of the electronics maker's stock valued at $369,000 after acquiring an additional 1,355 shares in the last quarter. Finally, Studio Investment Management LLC raised its stake in TE Connectivity by 15.8% during the 4th quarter. Studio Investment Management LLC now owns 2,919 shares of the electronics maker's stock valued at $417,000 after acquiring an additional 399 shares in the last quarter. Institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Performance

Shares of NYSE TEL opened at $162.92 on Tuesday. The stock has a market capitalization of $48.31 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 2.11 and a beta of 1.24. The stock's fifty day simple moving average is $142.41 and its 200 day simple moving average is $146.69. 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 Ltd. has a 52-week low of $116.30 and a 52-week high of $164.11.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its 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 business had revenue of $4.14 billion during the quarter, compared to analysts' expectations 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 last year, the firm posted $1.86 earnings per share. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio (DPR) is 62.42%.

Insider Transactions at TE Connectivity

In other 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 value of $3,669,250.00. Following the completion of the sale, the insider now owns 25,976 shares of the company's stock, valued at $3,812,497.52. This trade represents a 49.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP John S. Jenkins sold 30,000 shares of the firm's 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 of the company's stock, valued at approximately $3,678,728.75. This trade represents a 54.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,675 shares of company stock valued at $27,062,559 over the last quarter. Company insiders own 0.90% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group reaffirmed a "buy" rating and set a $163.00 target price (up previously from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. 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. Bank of America lifted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price target on TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Robert W. Baird lifted their price target on TE Connectivity from $147.00 to $153.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, TE Connectivity has an average rating of "Moderate Buy" and a consensus target price of $160.30.

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.

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