Quantbot Technologies LP Takes $2.80 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Quantbot Technologies LP purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 19,554 shares of the electronics maker’s stock, valued at approximately $2,796,000.

A number of other hedge funds have also recently made changes to their positions in TEL. Amundi acquired a new stake in shares of TE Connectivity during the fourth quarter valued at about $159,992,000. Nordea Investment Management AB acquired a new stake in shares of TE Connectivity during the fourth quarter valued at about $149,211,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of TE Connectivity by 2,330.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock valued at $107,738,000 after purchasing an additional 722,565 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its stake in shares of 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 acquiring an additional 694,917 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 owns 25,976 shares in the company, 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 legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird lifted their price objective on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Citigroup lifted their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company lifted their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Price Performance

Shares of TEL opened at $146.10 on Friday. The firm has a market cap of $43.59 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The business’s 50 day moving average price is $148.91 and its two-hundred day moving average price is $148.33. 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 (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 earnings per share. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.94%. TE Connectivity’s payout ratio is currently 45.37%.

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.