Point72 Asset Management L.P. Purchases 669,435 Shares of TE Connectivity Ltd. (NYSE:TEL)

Point72 Asset Management L.P. boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1,089.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 730,864 shares of the electronics maker's stock after buying an additional 669,435 shares during the period. Point72 Asset Management L.P. owned approximately 0.24% of TE Connectivity worth $104,492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of 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 valued at $9,274,000 after buying an additional 2,954 shares during the period. 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 valued at $1,958,000 after buying an additional 401 shares during the period. 180 Wealth Advisors LLC acquired a new position in TE Connectivity during the fourth quarter valued at $211,000. Fifth Third Wealth Advisors LLC increased its position in TE Connectivity by 8.6% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 4,767 shares of the electronics maker's stock worth $682,000 after purchasing an additional 378 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in TE Connectivity by 0.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 24,368 shares of the electronics maker's stock worth $3,484,000 after purchasing an additional 157 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TEL. Bank of America upped their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Citigroup cut their price objective on TE Connectivity from $165.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. HSBC upgraded TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price target on the stock 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 research report on Friday, February 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued 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 target price of $159.50.

TE Connectivity Stock Performance

TEL stock traded up $0.91 on Friday, reaching $164.03. 1,411,880 shares of the company were exchanged, compared to its average volume of 1,699,149. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $164.11. The stock's fifty day moving average price is $142.01 and its 200 day moving average price is $146.60. The firm has a market capitalization of $48.64 billion, a PE ratio of 26.20, a PEG ratio of 2.11 and a beta of 1.24. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the firm posted $1.86 earnings per share. TE Connectivity's revenue was up 4.4% compared to the same quarter last year. On average, research analysts anticipate 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 dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.73%. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is 62.42%.

Insider Buying and Selling

In other TE Connectivity news, EVP John S. Jenkins sold 20,400 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the sale, the executive vice president now owns 24,625 shares of the company's stock, valued at $4,010,181.25. The trade was a 45.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shadrak W. Kroeger sold 25,000 shares of the business's 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 completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This trade represents a 49.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 174,675 shares of company stock valued at $27,062,559. 0.90% of the stock is owned by company insiders.

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.