Taikang Asset Management Hong Kong Co Ltd Buys Shares of 32,500 TE Connectivity Ltd. (NYSE:TEL)

Taikang Asset Management Hong Kong Co Ltd bought a new position in TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 32,500 shares of the electronics maker’s stock, valued at approximately $4,647,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. acquired a new stake in TE Connectivity in the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. lifted its holdings 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 valued at $28,000 after buying an additional 107 shares during the period. Fairway Wealth LLC purchased a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $43,000. Golden State Wealth Management LLC purchased a new position in TE Connectivity in the fourth quarter worth $44,000. Finally, Hilltop National Bank purchased a new position in TE Connectivity in the fourth quarter worth $55,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $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 available through this link. 0.90% of the stock is currently owned by company insiders.

TE Connectivity Price Performance

NYSE:TEL opened at $149.04 on Tuesday. The firm has a market cap of $44.47 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average is $149.07 and its two-hundred day moving average is $148.35.

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, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business earned $1.84 earnings per share. Research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Increases Dividend

The firm 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 $0.71 dividend. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a yield of 1.91%. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is presently 45.37%.

Analyst Ratings Changes

A number of research firms recently commented on TEL. 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 report on Thursday, January 23rd. Citigroup upped their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Truist Financial decreased their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $167.00.

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.