Cubist Systematic Strategies LLC lowered its stake in shares of TE Connectivity Ltd (NYSE:TEL) by 38.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,346 shares of the electronics maker’s stock after selling 32,669 shares during the period. Cubist Systematic Strategies LLC’s holdings in TE Connectivity were worth $4,921,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. KBC Group NV lifted its position in TE Connectivity by 158.5% during the fourth quarter. KBC Group NV now owns 463,520 shares of the electronics maker’s stock worth $44,424,000 after buying an additional 284,192 shares during the period. Andra AP fonden lifted its position in TE Connectivity by 20.0% during the third quarter. Andra AP fonden now owns 67,100 shares of the electronics maker’s stock worth $6,252,000 after buying an additional 11,200 shares during the period. Millennium Management LLC purchased a new position in TE Connectivity during the third quarter worth about $2,610,000. Virtu Financial LLC purchased a new position in TE Connectivity during the third quarter worth about $703,000. Finally, Voloridge Investment Management LLC purchased a new position in TE Connectivity during the third quarter worth about $6,626,000. 91.27% of the stock is currently owned by institutional investors and hedge funds.
In other TE Connectivity news, insider Steven T. Merkt sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $94.46, for a total transaction of $944,600.00. Following the completion of the sale, the insider now owns 36,608 shares in the company, valued at approximately $3,457,991.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.80% of the stock is owned by company insiders.
Shares of NYSE:TEL opened at $63.49 on Thursday. The company has a market cap of $20.21 billion, a P/E ratio of 13.51, a PEG ratio of 1.10 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.64. TE Connectivity Ltd has a one year low of $48.62 and a one year high of $101.00. The business’s 50-day simple moving average is $81.02 and its 200 day simple moving average is $90.76.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 29th. The electronics maker reported $1.21 EPS for the quarter, beating the consensus estimate of $1.14 by $0.07. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.12 billion. TE Connectivity had a return on equity of 17.72% and a net margin of 12.01%. The company’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. Analysts predict that TE Connectivity Ltd will post 5.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 21st were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $1.84 dividend on an annualized basis and a yield of 2.90%. TE Connectivity’s dividend payout ratio (DPR) is presently 33.15%.
Several equities analysts recently weighed in on TEL shares. JPMorgan Chase & Co. upgraded TE Connectivity from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $98.00 to $117.00 in a research report on Tuesday, January 21st. ValuEngine upgraded TE Connectivity from a “sell” rating to a “hold” rating in a report on Friday, December 27th. Wells Fargo & Co upgraded TE Connectivity from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $100.00 to $112.00 in a report on Tuesday, January 14th. SunTrust Banks restated a “hold” rating and issued a $102.00 price objective on shares of TE Connectivity in a report on Thursday, January 30th. They noted that the move was a valuation call. Finally, Morgan Stanley cut their price objective on TE Connectivity from $91.00 to $74.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $97.97.
About TE Connectivity
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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