Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in TE Connectivity Ltd. (NYSE:TEL) by 6.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 474,521 shares of the electronics maker’s stock after buying an additional 26,689 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in TE Connectivity were worth $67,572,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Worth Financial Advisory Group LLC purchased a new position in shares of TE Connectivity during the fourth quarter valued at approximately $225,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in TE Connectivity in the 4th quarter valued at $758,000. Financial Engines Advisors L.L.C. purchased a new position in shares of TE Connectivity during the 4th quarter worth $216,000. Financial Counselors Inc. boosted its holdings in shares of TE Connectivity by 4.6% during the fourth quarter. Financial Counselors Inc. now owns 158,792 shares of the electronics maker’s stock worth $22,703,000 after purchasing an additional 6,914 shares during the last quarter. Finally, UNIVEST FINANCIAL Corp grew its position in shares of TE Connectivity by 53.0% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 76,096 shares of the electronics maker’s stock valued at $10,879,000 after purchasing an additional 26,349 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s 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 transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Truist Financial decreased their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Bank of America lifted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Trading Down 3.4 %

NYSE:TEL opened at $142.04 on Friday. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The business’s 50-day moving average is $149.32 and its two-hundred day moving average is $148.38. 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 firm has a market capitalization of $42.38 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32.

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

TE Connectivity Increases Dividend

The company also recently disclosed 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. This represents a $2.84 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is presently 45.37%.

TE Connectivity 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.