United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys New Position in TE Connectivity Ltd. (NYSE:TEL)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,300 shares of the electronics maker’s stock, valued at approximately $758,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Financial Engines Advisors L.L.C. acquired a new stake in shares of TE Connectivity during the fourth quarter worth $216,000. Financial Counselors Inc. boosted its stake in shares of TE Connectivity by 4.6% in the fourth quarter. Financial Counselors Inc. now owns 158,792 shares of the electronics maker’s stock valued at $22,703,000 after buying an additional 6,914 shares in the last quarter. UNIVEST FINANCIAL Corp grew its holdings in TE Connectivity by 53.0% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 76,096 shares of the electronics maker’s stock worth $10,879,000 after acquiring an additional 26,349 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in TE Connectivity by 67.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 400,892 shares of the electronics maker’s stock worth $57,316,000 after acquiring an additional 161,595 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in TE Connectivity by 6.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,423 shares of the electronics maker’s stock valued at $775,000 after acquiring an additional 309 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TEL shares. Citigroup increased their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Truist Financial reduced their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Finally, Wells Fargo & Company upped their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $167.00.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.90% of the company’s stock.

TE Connectivity Trading Up 1.1 %

TE Connectivity stock opened at $150.56 on Wednesday. The stock has a 50-day moving average price of $149.22 and a 200 day moving average price of $148.40. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The stock has a market cap 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 current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

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

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. 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 annualized dividend and a dividend yield of 1.89%. TE Connectivity’s dividend payout ratio (DPR) is 45.37%.

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.