Quantbot Technologies LP Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Quantbot Technologies LP acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 19,554 shares of the electronics maker’s stock, valued at approximately $2,796,000.

Several other large investors also recently made changes to their positions in TEL. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted its holdings in shares of TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after buying an additional 107 shares during the last quarter. Fairway Wealth LLC acquired a new stake in TE Connectivity during the 4th quarter valued at $43,000. Golden State Wealth Management LLC acquired a new stake in TE Connectivity during the 4th quarter valued at $44,000. Finally, Hilltop National Bank acquired a new stake in TE Connectivity during the 4th quarter valued at $55,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.90% of the company’s stock.

TE Connectivity Stock Down 0.1 %

Shares of NYSE TEL opened at $146.10 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The stock has a market capitalization of $43.59 billion, a P/E ratio of 23.34, a PEG ratio of 2.11 and a beta of 1.32. The stock’s fifty day moving average is $148.91 and its 200 day moving average is $148.33.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the business earned $1.84 earnings per share. TE Connectivity’s revenue was up .1% on a year-over-year basis. 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. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.94%. 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 payout ratio is currently 45.37%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TEL. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Truist Financial cut their price target on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Citigroup raised their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Finally, Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” and an average price target of $167.00.

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.