Diametric Capital LP Acquires New Shares in TE Connectivity Ltd. (NYSE:TEL)

Diametric Capital LP acquired a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) 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. Public Sector Pension Investment Board grew its stake in shares of TE Connectivity by 13.9% in the third quarter. Public Sector Pension Investment Board now owns 13,076 shares of the electronics maker's stock worth $1,974,000 after acquiring an additional 1,600 shares during the last quarter. Atom Investors LP grew its position in TE Connectivity by 238.1% in the 3rd quarter. Atom Investors LP now owns 4,707 shares of the electronics maker's stock worth $711,000 after purchasing an additional 3,315 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of TE Connectivity by 2,193.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 2,179 shares of the electronics maker's stock worth $329,000 after purchasing an additional 2,084 shares during the period. Holocene Advisors LP acquired a new position in shares of TE Connectivity during the third quarter valued at about $10,038,000. Finally, Hilltop Holdings Inc. lifted its stake in shares of TE Connectivity by 101.0% in the third quarter. Hilltop Holdings Inc. now owns 3,907 shares of the electronics maker's stock valued at $590,000 after buying an additional 1,963 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Price Performance

TE Connectivity stock traded down $12.16 on Thursday, reaching $130.14. The company's stock had a trading volume of 2,922,305 shares, compared to its average volume of 1,679,951. The business's fifty day moving average price is $148.29 and its 200 day moving average price is $148.22. 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 company has a market cap of $38.83 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.11 and a beta of 1.25. TE Connectivity Ltd. has a twelve month low of $130.00 and a twelve month high of $159.98.

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TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the company earned $1.84 EPS. The firm's quarterly revenue was up .1% on a year-over-year basis. Equities analysts expect 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 issued a dividend of $0.71 per share. This is an increase from TE Connectivity's previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 2.18%. TE Connectivity's dividend payout ratio is currently 45.37%.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business'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 completion of the sale, the insider now directly owns 25,976 shares of the company's stock, valued at $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America upped their price target on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research note on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Robert W. Baird increased their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Finally, StockNews.com downgraded TE Connectivity from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average 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.