TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Tidal Investments LLC

Tidal Investments LLC lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 277.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 83,533 shares of the electronics maker’s stock after acquiring an additional 61,405 shares during the quarter. Tidal Investments LLC’s holdings in TE Connectivity were worth $11,943,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SRS Capital Advisors Inc. boosted its holdings in shares of TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after buying an additional 107 shares during the period. Fairway Wealth LLC acquired a new position in shares of TE Connectivity in the fourth quarter worth about $43,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity in the fourth quarter worth about $44,000. Deseret Mutual Benefit Administrators acquired a new position in shares of TE Connectivity in the fourth quarter worth about $57,000. Finally, Webster Bank N. A. acquired a new position in shares of TE Connectivity in the fourth quarter worth about $61,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of TEL opened at $164.03 on Monday. The firm has a market cap of $48.64 billion, a PE ratio of 26.20, a PEG ratio of 2.11 and a beta of 1.24. The firm’s 50 day moving average price is $142.01 and its 200 day moving average price is $146.60. 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 twelve month low of $116.30 and a twelve month high of $164.11.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating 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 company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the firm posted $1.86 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts expect 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. Stockholders of record on Wednesday, May 21st will be given a $0.71 dividend. This is a positive change 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 dividend yield of 1.73%. TE Connectivity’s dividend payout ratio (DPR) is currently 62.42%.

Insider Activity

In other TE Connectivity news, EVP John S. Jenkins sold 20,400 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total value of $3,322,140.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares of the company’s stock, valued at $4,010,181.25. This represents a 45.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Heath A. Mitts sold 53,306 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $159.21, for a total transaction 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 approximately $7,244,532.63. This trade represents a 53.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock valued at $27,062,559 over the last 90 days. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TEL has been the subject of several recent analyst reports. Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. raised their target price on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. UBS Group reiterated a “buy” rating and issued a $163.00 target price (up from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Finally, Wells Fargo & Company raised their price target on shares of TE Connectivity from $130.00 to $148.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.50.

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.