TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 67.5% in the fourth quarter, HoldingsChannel reports. The fund owned 400,892 shares of the electronics maker’s stock after buying an additional 161,595 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in TE Connectivity were worth $57,316,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity during the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. raised its position in shares of TE Connectivity by 117.6% in the 4th 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 TE Connectivity in the fourth quarter valued at $43,000. Golden State Wealth Management LLC purchased a new stake in TE Connectivity during the fourth quarter valued at about $44,000. Finally, Hilltop National Bank acquired a new stake in TE Connectivity during the fourth quarter worth about $55,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial reduced their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Bank of America increased their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, Robert W. Baird increased their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and an average target price of $167.00.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 1.1 %

Shares of TE Connectivity stock opened at $150.56 on Wednesday. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The company has a market capitalization of $44.92 billion, a PE ratio of 24.05, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The business has a 50-day moving average of $149.22 and a 200-day moving average of $148.40.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the company posted $1.84 EPS. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.89%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s payout ratio is presently 45.37%.

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.