Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 308,342 shares of the electronics maker's stock after purchasing an additional 15,474 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of TE Connectivity worth $42,283,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC grew its stake in shares of TE Connectivity by 97.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker's stock valued at $26,000 after acquiring an additional 91 shares during the period. Jones Financial Companies Lllp increased its stake in TE Connectivity by 358.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker's stock worth $30,000 after buying an additional 190 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in TE Connectivity during the fourth quarter valued at about $30,000. EdgeRock Capital LLC bought a new position in shares of TE Connectivity in the fourth quarter worth about $41,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of TE Connectivity during the fourth quarter worth about $45,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.
TE Connectivity Stock Up 1.5 %
Shares of TEL traded up $2.17 during midday trading on Wednesday, reaching $151.46. 1,331,979 shares of the stock were exchanged, compared to its average volume of 2,117,818. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The company's 50 day moving average is $142.85 and its two-hundred day moving average is $138.36. The company has a market capitalization of $46.38 billion, a P/E ratio of 13.86, a PEG ratio of 2.18 and a beta of 1.36. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $151.73.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.03. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. TE Connectivity's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 EPS. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.51 earnings per share for the current year.
TE Connectivity Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.72%. TE Connectivity's dividend payout ratio (DPR) is presently 21.59%.
Insider Buying and Selling at TE Connectivity
In other TE Connectivity news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the completion of the sale, the director now owns 5,917 shares in the company, valued at approximately $837,196.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.86% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have commented on TEL shares. Stifel Nicolaus boosted their price target on shares of TE Connectivity from $140.00 to $145.00 and gave the stock a "hold" rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. cut their price target on TE Connectivity from $170.00 to $169.00 and set a "neutral" rating for the company in a report on Thursday, April 25th. Truist Financial upped their price objective on TE Connectivity from $148.00 to $153.00 and gave the stock a "hold" rating in a report on Thursday, January 25th. StockNews.com started coverage on shares of TE Connectivity in a report on Wednesday, May 8th. They issued a "buy" rating on the stock. Finally, The Goldman Sachs Group restated a "buy" rating on shares of TE Connectivity in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $153.89.
View Our Latest Stock Analysis on TEL
TE Connectivity Profile
(
Free Report)
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.
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