Nomura Holdings Inc. Acquires Shares of 12,608 TE Connectivity Ltd. (NYSE:TEL)

Nomura Holdings Inc. acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,608 shares of the electronics maker’s stock, valued at approximately $1,803,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. abrdn plc acquired a new stake in shares of TE Connectivity during the 4th quarter worth approximately $15,739,000. Truist Financial Corp raised its position in shares of TE Connectivity by 32.8% during the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock worth $18,509,000 after purchasing an additional 31,991 shares during the period. Merit Financial Group LLC acquired a new stake in shares of TE Connectivity during the 4th quarter worth approximately $237,000. First Citizens Bank & Trust Co. raised its position in shares of TE Connectivity by 67.7% during the 4th quarter. First Citizens Bank & Trust Co. now owns 44,271 shares of the electronics maker’s stock worth $6,329,000 after purchasing an additional 17,866 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in shares of TE Connectivity by 14.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker’s stock worth $949,000 after purchasing an additional 841 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TEL opened at $164.03 on Friday. The firm has a market cap of $48.64 billion, a PE ratio of 26.20, a P/E/G ratio of 2.11 and a beta of 1.24. 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 business has a fifty day simple moving average of $142.01 and a 200-day simple moving average of $146.60. TE Connectivity Ltd. has a fifty-two week low of $116.30 and a fifty-two week high of $164.11.

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

TE Connectivity Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be issued a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.73%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is presently 62.42%.

Insider Activity

In related news, EVP John S. Jenkins sold 20,400 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares in the company, valued at approximately $4,010,181.25. This trade represents a 45.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This represents a 49.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,675 shares of company stock worth $27,062,559 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TEL. Hsbc Global Res raised TE Connectivity from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 24th. Truist Financial decreased their price objective on TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a report on Thursday, April 24th. UBS Group reissued a “buy” rating and issued a $163.00 price objective (up from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Robert W. Baird increased their price objective on TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Vertical Research raised TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Friday, April 25th. 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 company. According to MarketBeat.com, TE Connectivity has a consensus rating of “Moderate Buy” and a consensus price target 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.