Diametric Capital LP Purchases Shares of 2,025 TE Connectivity Ltd. (NYSE:TEL)

Diametric Capital LP acquired a new position in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,025 shares of the electronics maker’s stock, valued at approximately $290,000.

Several other large investors have also made changes to their positions in TEL. Wellington Management Group LLP bought a new position in TE Connectivity in the 4th quarter worth approximately $909,598,000. Vanguard Group Inc. increased its position in TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after acquiring an additional 4,029,596 shares during the period. Norges Bank acquired a new position in TE Connectivity during the 4th quarter valued at $508,199,000. Clearbridge Investments LLC grew its position in TE Connectivity by 72.1% in the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock worth $581,148,000 after purchasing an additional 1,702,825 shares during the last quarter. Finally, Amundi bought a new position in shares of TE Connectivity during the 4th quarter worth about $159,992,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of recent research reports. 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 research report on Thursday, January 23rd. Bank of America lifted their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Finally, Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Trading Down 0.4 %

Shares of TEL stock opened at $140.72 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $41.98 billion, a P/E ratio of 22.48, a P/E/G ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The firm has a 50-day moving average price of $149.08 and a 200 day moving average price of $148.38.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 earnings per share. Research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently disclosed 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 2.02%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.