Blueshift Asset Management LLC Takes $642,000 Position in TE Connectivity Ltd. (NYSE:TEL)

Blueshift Asset Management LLC bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,488 shares of the electronics maker's stock, valued at approximately $642,000.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its stake in TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock valued at $1,940,615,000 after acquiring an additional 268,837 shares during the period. Geode Capital Management LLC boosted its position in TE Connectivity by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock valued at $899,681,000 after purchasing an additional 75,658 shares during the period. Bank of New York Mellon Corp grew its stake in TE Connectivity by 15.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker's stock worth $536,083,000 after buying an additional 488,680 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock worth $508,481,000 after buying an additional 694,917 shares during the period. Finally, Franklin Resources Inc. lifted its stake in TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock valued at $445,603,000 after buying an additional 712,228 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

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Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares of the company's stock, valued at $3,925,752.88. This trade represents 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. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Price Performance

Shares of NYSE:TEL traded up $1.58 during trading hours on Tuesday, hitting $150.56. 2,867,734 shares of the company's stock traded hands, compared to its average volume of 1,579,313. The company's fifty day simple moving average is $149.07 and its two-hundred day simple moving average is $148.35. The company has a market cap of $44.92 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. 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.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm's revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm posted $1.84 earnings per share. As a group, equities 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. Stockholders 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 is a positive change from TE Connectivity's previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.89%. TE Connectivity's payout ratio is 45.37%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Bank of America upped their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Robert W. Baird raised their price target 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. Citigroup increased their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. HSBC raised TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Finally, Hsbc Global Res raised TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.