JPMorgan Chase & Co. Buys 316,849 Shares of TE Connectivity Ltd. (NYSE:TEL)

JPMorgan Chase & Co. increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 23.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,664,096 shares of the electronics maker’s stock after acquiring an additional 316,849 shares during the quarter. JPMorgan Chase & Co.’s holdings in TE Connectivity were worth $237,916,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of TE Connectivity by 6.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 474,521 shares of the electronics maker’s stock worth $67,572,000 after buying an additional 26,689 shares in the last quarter. Worth Financial Advisory Group LLC purchased a new stake 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 purchased a new position in TE Connectivity in the fourth quarter worth $758,000. Financial Engines Advisors L.L.C. bought a new position in TE Connectivity in the 4th quarter valued at $216,000. Finally, Financial Counselors Inc. increased its position in shares of TE Connectivity by 4.6% during the 4th quarter. Financial Counselors Inc. now owns 158,792 shares of the electronics maker’s stock valued at $22,703,000 after purchasing an additional 6,914 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.90% of the stock is owned by company insiders.

TE Connectivity Trading Down 0.5 %

Shares of TE Connectivity stock opened at $141.36 on Tuesday. The company’s 50-day moving average price is $149.23 and its 200-day moving average price is $148.42. The company has a market cap of $42.18 billion, a price-to-earnings ratio of 22.58, a PEG 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.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share. On average, equities analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued 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 dividend yield of 2.01%. TE Connectivity’s payout ratio is presently 45.37%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TEL shares. Citigroup boosted their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Robert W. Baird lifted their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Bank of America upped their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Truist Financial lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $167.00.

About TE Connectivity

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.