Sumitomo Mitsui DS Asset Management Company Ltd Has $3.95 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in TE Connectivity Ltd. (NYSE:TEL) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,084 shares of the electronics maker’s stock after purchasing an additional 282 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in TE Connectivity were worth $3,946,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of TE Connectivity during the fourth quarter valued at $10,759,000. Nordea Investment Management AB raised its position in shares of TE Connectivity by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 812,537 shares of the electronics maker’s stock worth $114,430,000 after acquiring an additional 41,198 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of TE Connectivity by 518.3% in the fourth quarter. SG Americas Securities LLC now owns 155,698 shares of the electronics maker’s stock worth $21,876,000 after acquiring an additional 130,515 shares during the period. Patten Group Inc. bought a new stake in TE Connectivity in the fourth quarter valued at approximately $220,000. Finally, Ninety One North America Inc. increased its position in TE Connectivity by 39.4% during the 4th quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock valued at $8,611,000 after purchasing an additional 17,322 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEL. Citigroup assumed coverage on shares of TE Connectivity in a research report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price target on the stock. Truist Financial raised their target price on TE Connectivity from $148.00 to $153.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. boosted their price target on shares of TE Connectivity from $169.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. StockNews.com began coverage on TE Connectivity in a research note on Monday. They issued a “buy” rating for the company. Finally, Robert W. Baird increased their target price on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $153.30.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $144.00, for a total transaction of $14,367,888.00. Following the sale, the insider now owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.86% of the company’s stock.

TE Connectivity Stock Performance

NYSE TEL opened at $143.77 on Tuesday. The company has a market capitalization of $44.68 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 2.00 and a beta of 1.39. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $147.98. The company has a 50-day simple moving average of $142.66 and a 200 day simple moving average of $135.86.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.13. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the business posted $1.53 EPS. TE Connectivity’s quarterly revenue was down .3% compared to the same quarter last year. On average, research analysts predict that TE Connectivity Ltd. will post 7.59 EPS for the current year.

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Friday, February 21st. TE Connectivity’s dividend payout ratio is currently 22.39%.

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.