Graham Capital Management L.P. boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 57.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,729 shares of the electronics maker's stock after acquiring an additional 2,082 shares during the period. Graham Capital Management L.P.'s holdings in TE Connectivity were worth $819,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TEL. Czech National Bank raised its position in TE Connectivity by 4.8% during the fourth quarter. Czech National Bank now owns 64,865 shares of the electronics maker's stock worth $9,274,000 after acquiring an additional 2,954 shares during the last quarter. Fiduciary Alliance LLC acquired a new position in TE Connectivity during the fourth quarter worth about $1,285,000. Miracle Mile Advisors LLC raised its position in TE Connectivity by 3.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 13,694 shares of the electronics maker's stock worth $1,958,000 after acquiring an additional 401 shares during the last quarter. 180 Wealth Advisors LLC acquired a new position in TE Connectivity during the fourth quarter worth about $211,000. Finally, Fifth Third Wealth Advisors LLC raised its position in TE Connectivity by 8.6% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,767 shares of the electronics maker's stock worth $682,000 after acquiring an additional 378 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.
Insider Activity
In other news, SVP Malavika Sagar sold 3,125 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $160.00, for a total value of $500,000.00. Following the completion of the transaction, the senior vice president now directly owns 5,927 shares in the company, valued at approximately $948,320. This represents a 34.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on 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 owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,675 shares of company stock worth $27,062,559. 0.90% of the stock is currently owned by company insiders.
TE Connectivity Trading Up 0.6%
TEL traded up $0.91 during trading on Friday, hitting $164.03. 1,411,880 shares of the company's stock were exchanged, compared to its average volume of 1,696,545. 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 1 year low of $116.30 and a 1 year high of $164.11. The stock has a 50 day moving average price of $142.01 and a 200 day moving average price of $146.64. The firm has a market cap of $48.64 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24.
TE Connectivity (NYSE:TEL - Get Free Report) last released 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. 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 previous year, the firm earned $1.86 earnings per share. TE Connectivity's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.
TE Connectivity Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be paid a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.73%. TE Connectivity's dividend payout ratio is 62.42%.
Analyst Ratings Changes
A number of research firms have recently weighed in on TEL. Bank of America boosted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $130.00 to $148.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. 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. Vertical Research raised shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research report on Friday, April 25th. Finally, UBS Group reissued a "buy" rating and issued a $163.00 price objective (up previously from $155.00) on shares of TE Connectivity in a research report on Thursday, April 24th. Four research 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.com, TE Connectivity presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.50.
View Our Latest Stock Report on TE Connectivity
About TE Connectivity
(
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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