Quantinno Capital Management LP Buys 21,620 Shares of TE Connectivity Ltd. (NYSE:TEL)

Quantinno Capital Management LP grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 96.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 44,002 shares of the electronics maker’s stock after acquiring an additional 21,620 shares during the quarter. Quantinno Capital Management LP’s holdings in TE Connectivity were worth $6,291,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Mufg Securities Americas Inc. bought a new stake in shares of TE Connectivity during the 4th quarter valued at $631,000. Nomura Holdings Inc. bought a new stake in shares of TE Connectivity during the 4th quarter valued at $1,803,000. NorthRock Partners LLC lifted its position in shares of TE Connectivity by 26.2% during the 4th quarter. NorthRock Partners LLC now owns 2,162 shares of the electronics maker’s stock valued at $309,000 after acquiring an additional 449 shares during the period. Nuveen Asset Management LLC lifted its position in shares of TE Connectivity by 2.6% during the 4th quarter. Nuveen Asset Management LLC now owns 1,583,503 shares of the electronics maker’s stock valued at $226,393,000 after acquiring an additional 39,715 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of TE Connectivity during the 4th quarter valued at $14,240,000. 91.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on TEL. Hsbc Global Res upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. The Goldman Sachs Group dropped their price objective on TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. upped their price objective on TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Citigroup dropped their price objective on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, UBS Group restated a “buy” rating and set a $163.00 price objective (up from $155.00) on shares of TE Connectivity in a research report on Thursday, April 24th. Four 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.50.

TE Connectivity Price Performance

Shares of TEL opened at $164.03 on Friday. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $164.11. The business has a 50-day simple moving average of $142.01 and a two-hundred day simple moving average of $146.64. 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 stock has a market cap of $48.64 billion, a PE ratio of 26.20, a PEG ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL) last issued 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 return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the firm earned $1.86 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share 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. Shareholders of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.73%. 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 is presently 62.42%.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the 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 completion of the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John S. Jenkins sold 20,400 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 24,625 shares of the company’s stock, valued at approximately $4,010,181.25. The trade was a 45.31% 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 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

About TE Connectivity

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.