PDT Partners LLC Reduces Holdings in TE Connectivity Ltd. (NYSE:TEL)

PDT Partners LLC lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 33.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,150 shares of the electronics maker’s stock after selling 1,100 shares during the quarter. PDT Partners LLC’s holdings in TE Connectivity were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Modera Wealth Management LLC increased its stake in shares of TE Connectivity by 2.8% in the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock worth $409,000 after acquiring an additional 78 shares in the last quarter. King Luther Capital Management Corp boosted its position in shares of TE Connectivity by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock worth $2,002,000 after purchasing an additional 83 shares in the last quarter. Ascent Wealth Partners LLC grew its stake in shares of TE Connectivity by 1.0% in the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock worth $1,231,000 after buying an additional 85 shares during the last quarter. Moors & Cabot Inc. increased its position in TE Connectivity by 6.0% during the 4th quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker’s stock valued at $240,000 after buying an additional 95 shares in the last quarter. Finally, Callan Capital LLC raised its stake in TE Connectivity by 5.4% during the fourth quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock valued at $296,000 after buying an additional 106 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TEL shares. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Robert W. Baird raised their price objective on shares of TE Connectivity from $147.00 to $153.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Hsbc Global Res raised shares of TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. The Goldman Sachs Group lowered their price objective on TE Connectivity from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Vertical Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $159.50.

Insider Transactions at TE Connectivity

In related 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 transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 2.5 %

TEL stock opened at $150.02 on Friday. The business’s 50-day moving average is $140.68 and its two-hundred day moving average is $146.06. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week 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 company has a market cap of $44.49 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 2.11 and a beta of 1.23.

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

TE Connectivity Increases Dividend

The business also recently declared 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. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.89%. TE Connectivity’s dividend payout ratio is presently 62.42%.

About TE Connectivity

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.