Dark Forest Capital Management LP grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 537.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,895 shares of the electronics maker's stock after purchasing an additional 10,873 shares during the quarter. Dark Forest Capital Management LP's holdings in TE Connectivity were worth $1,844,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. boosted its stake in shares of TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 107 shares during the period. Fairway Wealth LLC purchased a new stake in TE Connectivity during the 4th quarter worth $43,000. Golden State Wealth Management LLC acquired a new position in TE Connectivity in the 4th quarter worth $44,000. Finally, Hilltop National Bank purchased a new position in TE Connectivity in the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 91.43% of the company's stock.
Insiders Place Their Bets
In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm's stock in a transaction that occurred 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 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 through the SEC website. 0.90% of the stock is owned by insiders.
Analyst Ratings Changes
TEL has been the topic of a number of analyst reports. UBS Group reaffirmed a "buy" rating and set a $163.00 target price (up from $155.00) on shares of TE Connectivity in a research report on Thursday. Bank of America raised 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. StockNews.com lowered shares of TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Truist Financial reduced their price target on shares of TE Connectivity from $163.00 to $156.00 and set a "hold" rating on the stock in a research report on Thursday. Finally, HSBC raised TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 target price on the stock in a report on Thursday. Four research 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's stock. According to MarketBeat.com, TE Connectivity currently has an average rating of "Moderate Buy" and a consensus target price of $159.50.
View Our Latest Stock Analysis on TEL
TE Connectivity Stock Performance
Shares of TEL traded up $1.06 during mid-day trading on Friday, reaching $144.58. 1,464,520 shares of the company's stock traded hands, compared to its average volume of 1,689,793. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The business's 50-day moving average price is $141.45 and its 200-day moving average price is $146.08. The stock has a market capitalization of $43.14 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $159.98.
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 for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. Equities analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current 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 $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.96%. 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. TE Connectivity's dividend payout ratio is currently 45.37%.
TE Connectivity Profile
(
Free Report)
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.
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