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 increased its position in TE Connectivity Ltd. (NYSE:TEL) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,084 shares of the electronics maker’s stock after purchasing an additional 282 shares during the quarter. 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.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bruce G. Allen Investments LLC bought a new stake in TE Connectivity in the fourth quarter valued at $30,000. Jones Financial Companies Lllp increased its holdings in shares of TE Connectivity by 358.5% during the third quarter. Jones Financial Companies Lllp now owns 243 shares of the electronics maker’s stock worth $30,000 after buying an additional 190 shares in the last quarter. Arlington Trust Co LLC bought a new position in shares of TE Connectivity in the third quarter valued at approximately $35,000. Wetzel Investment Advisors Inc. acquired a new position in shares of TE Connectivity in the 4th quarter worth approximately $45,000. Finally, Exchange Traded Concepts LLC grew its position in TE Connectivity by 176.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 329 shares of the electronics maker’s stock worth $46,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Steven T. Merkt sold 99,777 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the transaction, the insider now owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.86% of the company’s stock.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $143.77 on Tuesday. TE Connectivity Ltd. has a 52 week low of $115.00 and a 52 week high of $147.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.16 and a current ratio of 1.86. The stock has a market capitalization of $44.68 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 2.00 and a beta of 1.39. The firm has a fifty day moving average of $142.66 and a two-hundred day moving average of $135.86.

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

TE Connectivity Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TEL. The Goldman Sachs Group reiterated a “buy” rating on shares of TE Connectivity in a research report on Monday, April 1st. Citigroup assumed coverage on shares of TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 price target on the stock. Jefferies Financial Group started coverage on shares of TE Connectivity in a research report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective for the company. Truist Financial upped their target price on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Finally, StockNews.com began coverage on shares of TE Connectivity in a report on Monday. They issued a “buy” rating for the company. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $153.30.

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.