Magnetar Financial LLC Reduces Position in TE Connectivity Ltd. (NYSE:TEL)

Magnetar Financial LLC lessened its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 73.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,107 shares of the electronics maker's stock after selling 30,801 shares during the quarter. Magnetar Financial LLC's holdings in TE Connectivity were worth $1,588,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TEL. Amundi purchased a new stake in shares of TE Connectivity during the 4th quarter valued at about $159,992,000. Nordea Investment Management AB purchased a new stake in TE Connectivity during the fourth quarter valued at approximately $149,211,000. Sumitomo Mitsui Trust Group Inc. raised its position in TE Connectivity by 2,330.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker's stock worth $107,738,000 after acquiring an additional 722,565 shares during the period. Franklin Resources Inc. boosted its stake in shares of TE Connectivity by 31.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock worth $445,603,000 after acquiring an additional 712,228 shares during the last quarter. Finally, EdgePoint Investment Group Inc. boosted its stake in shares of TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock worth $508,481,000 after acquiring an additional 694,917 shares during the last quarter. Institutional investors own 91.43% of the company's stock.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by company insiders.

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TE Connectivity Price Performance

Shares of TEL traded up $1.58 during midday trading on Tuesday, hitting $150.56. 2,867,734 shares of the company traded hands, compared to its average volume of 1,579,313. The stock has a market cap of $44.92 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.11 and a beta of 1.32. The firm has a 50 day moving average of $149.07 and a 200-day moving average of $148.35. 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 announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm's revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 earnings per share. On average, analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid 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 of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.89%. TE Connectivity's dividend payout ratio is presently 45.37%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company raised their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. Hsbc Global Res raised TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. Robert W. Baird boosted their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Citigroup raised their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Finally, HSBC upgraded shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price target for the company in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, TE Connectivity has an average rating of "Hold" and an average price target of $167.00.

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.