UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 551,800 Shares of TE Connectivity Ltd. (NYSE:TEL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in TE Connectivity Ltd. (NYSE:TEL) by 28.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,526,030 shares of the electronics maker’s stock after buying an additional 551,800 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in TE Connectivity were worth $361,147,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of TEL. abrdn plc bought a new stake in TE Connectivity in the 4th quarter valued at approximately $15,739,000. Truist Financial Corp raised its holdings in shares of TE Connectivity by 32.8% in the fourth quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker’s stock valued at $18,509,000 after purchasing an additional 31,991 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of TE Connectivity by 67.7% in the fourth 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 in the last quarter. Merit Financial Group LLC acquired a new position in TE Connectivity during the fourth quarter worth $237,000. Finally, Steward Partners Investment Advisory LLC grew its position in TE Connectivity by 14.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,634 shares of the electronics maker’s stock valued at $949,000 after purchasing an additional 841 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TE Connectivity

In related news, CFO Heath A. Mitts sold 37,844 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $153.33, for a total transaction of $5,802,620.52. Following the transaction, the chief financial officer now directly owns 45,503 shares of the company’s stock, valued at approximately $6,976,974.99. This trade represents a 45.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John S. Jenkins sold 20,400 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were 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 of the company’s stock, valued at $4,010,181.25. This represents a 45.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock valued at $27,062,559 in the last three months. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TEL shares. Bank of America boosted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. upped their target price on TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a report on Thursday, April 24th. Truist Financial reduced their price target on TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company boosted their price target on TE Connectivity from $148.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, UBS Group reissued a “buy” rating and issued a $163.00 price objective (up previously from $155.00) on shares of TE Connectivity in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.30.

TE Connectivity Stock Performance

TEL opened at $159.50 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $164.11. The business has a 50 day moving average of $143.10 and a 200-day moving average of $146.89. The stock has a market cap of $47.30 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the firm posted $1.86 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.78%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is 62.42%.

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.