Graham Capital Management L.P. Acquires 2,082 Shares of TE Connectivity Ltd. (NYSE:TEL)

Graham Capital Management L.P. increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 57.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,729 shares of the electronics maker’s stock after purchasing an additional 2,082 shares during the period. Graham Capital Management L.P.’s holdings in TE Connectivity were worth $819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new stake in shares of TE Connectivity during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. raised its position in shares of TE Connectivity by 117.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 107 shares during the period. Fairway Wealth LLC bought a new stake in shares of TE Connectivity during the 4th quarter valued at $43,000. Golden State Wealth Management LLC bought a new stake in shares of TE Connectivity during the 4th quarter valued at $44,000. Finally, Deseret Mutual Benefit Administrators bought a new stake in shares of TE Connectivity during the 4th quarter valued at $57,000. 91.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on TEL. Hsbc Global Res upgraded shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. Bank of America lifted their price target 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. Vertical Research upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Friday, April 25th. Citigroup reduced their price target on shares of TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average price target of $159.50.

TE Connectivity Stock Performance

TE Connectivity stock opened at $162.47 on Wednesday. The company’s 50-day moving average price is $141.11 and its 200-day moving average price is $146.37. TE Connectivity Ltd. has a twelve month low of $116.30 and a twelve month high of $163.39. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a market cap of $48.18 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the firm posted $1.86 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.75%. TE Connectivity’s payout ratio is currently 62.42%.

Insider Buying and Selling

In other TE Connectivity news, CFO Heath A. Mitts sold 53,306 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $159.21, for a total value of $8,486,848.26. Following the completion of the sale, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at $7,244,532.63. The trade was a 53.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Aaron Kyle Stucki sold 5,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $160.00, for a total transaction of $800,000.00. Following the completion of the sale, the insider now directly owns 23,646 shares of the company’s stock, valued at approximately $3,783,360. This trade represents a 17.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,275 shares of company stock valued at $23,740,419. Company 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.