Quantbot Technologies LP Acquires Shares of 19,554 TE Connectivity Ltd. (NYSE:TEL)

Quantbot Technologies LP acquired a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 19,554 shares of the electronics maker's stock, valued at approximately $2,796,000.

Several other large investors also recently modified their holdings of the company. Sciencast Management LP grew its holdings in TE Connectivity by 161.8% during the 4th quarter. Sciencast Management LP now owns 18,930 shares of the electronics maker's stock worth $2,706,000 after acquiring an additional 11,699 shares during the period. Wayfinding Financial LLC bought a new stake in shares of TE Connectivity during the 4th quarter valued at about $209,000. Whittier Trust Co. of Nevada Inc. grew its stake in TE Connectivity by 475.1% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 4,141 shares of the electronics maker's stock worth $592,000 after purchasing an additional 3,421 shares during the period. Whittier Trust Co. increased its holdings in TE Connectivity by 979.7% in the fourth quarter. Whittier Trust Co. now owns 9,663 shares of the electronics maker's stock worth $1,382,000 after purchasing an additional 8,768 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in TE Connectivity in the fourth quarter valued at approximately $642,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TEL has been the subject of several research analyst reports. Truist Financial lowered their price objective on shares of TE Connectivity from $165.00 to $163.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Bank of America upped their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Robert W. Baird raised their target price on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Hsbc Global Res raised TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Finally, Citigroup raised their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $167.00.

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TE Connectivity Stock Down 1.8 %

TEL traded down $2.74 during mid-day trading on Thursday, reaching $147.00. 1,903,149 shares of the stock were exchanged, compared to its average volume of 1,586,735. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. 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 stock has a market capitalization of $43.86 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The company has a 50 day moving average price of $149.34 and a two-hundred day moving average price of $148.41.

TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion for 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 in the previous year, the company earned $1.84 earnings per share. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.93%. This is a boost from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's payout ratio is currently 45.37%.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the transaction, the insider now directly owns 25,976 shares of the company's stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company's stock.

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.