Mufg Securities Americas Inc. Acquires Shares of 4,417 TE Connectivity Ltd. (NYSE:TEL)

Mufg Securities Americas Inc. acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,417 shares of the electronics maker’s stock, valued at approximately $631,000.

Other institutional investors have also recently made changes to their positions in the company. abrdn plc acquired a new stake in shares of TE Connectivity in the fourth quarter worth approximately $15,739,000. Truist Financial Corp boosted its stake in TE Connectivity by 32.8% during the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock worth $18,509,000 after buying an additional 31,991 shares during the last quarter. Carnegie Investment Counsel boosted its stake in TE Connectivity by 4.3% during the fourth quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker’s stock worth $17,019,000 after buying an additional 4,913 shares during the last quarter. Merit Financial Group LLC acquired a new position in TE Connectivity during the fourth quarter worth $237,000. Finally, First Citizens Bank & Trust Co. boosted its stake in TE Connectivity by 67.7% during the fourth quarter. First Citizens Bank & Trust Co. now owns 44,271 shares of the electronics maker’s stock worth $6,329,000 after buying an additional 17,866 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Price Performance

NYSE:TEL opened at $163.58 on Friday. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $163.61. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $48.51 billion, a P/E ratio of 26.13, a P/E/G ratio of 2.11 and a beta of 1.24. The stock’s fifty day moving average is $141.62 and its two-hundred day moving average is $146.56.

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

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be paid a dividend of $0.71 per share. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a yield of 1.74%. TE Connectivity’s dividend payout ratio is presently 62.42%.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John S. Jenkins sold 20,400 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total value of $3,322,140.00. Following the sale, the executive vice president now owns 24,625 shares in the company, valued at approximately $4,010,181.25. This trade represents a 45.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,675 shares of company stock valued at $27,062,559. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group reissued a “buy” rating and set a $163.00 price objective (up previously from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Citigroup lowered their price objective on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. HSBC raised TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research note 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 note on Thursday, April 10th. Finally, Hsbc Global Res upgraded TE Connectivity from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.50.

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.