Global X Japan Co. Ltd. Acquires Shares of 334 TE Connectivity Ltd. (NYSE:TEL)

Global X Japan Co. Ltd. bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 334 shares of the electronics maker’s stock, valued at approximately $47,000.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in TE Connectivity by 14.2% during the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after buying an additional 4,029,596 shares during the last quarter. Wellington Management Group LLP bought a new position in TE Connectivity during the 4th quarter worth approximately $909,598,000. Geode Capital Management LLC lifted its holdings in TE Connectivity by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock worth $857,499,000 after buying an additional 33,340 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in TE Connectivity by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 5,603,251 shares of the electronics maker’s stock worth $801,101,000 after buying an additional 592,072 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in TE Connectivity by 72.1% during the 4th quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock worth $581,148,000 after buying an additional 1,702,825 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling at TE Connectivity

In other news, CFO Heath A. Mitts sold 37,844 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $153.33, for a total value of $5,802,620.52. Following the sale, the chief financial officer now owns 45,503 shares of the company’s stock, valued at approximately $6,976,974.99. The trade was a 45.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John S. Jenkins sold 30,000 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the completion of the sale, the executive vice president now directly owns 24,625 shares in the company, valued at $3,678,728.75. This represents a 54.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,675 shares of company stock valued at $27,369,059 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Down 0.0%

Shares of TE Connectivity stock opened at $163.63 on Friday. The business’s fifty day moving average price is $153.09 and its two-hundred day moving average price is $148.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.51 and a quick ratio of 1.08. The company has a market capitalization of $48.52 billion, a P/E ratio of 35.96, a PEG ratio of 2.14 and a beta of 1.23. TE Connectivity Ltd. has a 1-year low of $116.30 and a 1-year high of $167.94.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.14. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 19.40% and a net margin of 8.67%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 EPS. As a group, research analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, August 22nd. TE Connectivity’s payout ratio is currently 62.42%.

Analysts Set New Price Targets

A number of research analysts have commented on TEL shares. JPMorgan Chase & Co. increased 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. HSBC raised TE Connectivity from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Thursday, April 24th. Truist Financial cut their price target on TE Connectivity from $163.00 to $156.00 and set a “hold” rating on the stock in a report on Thursday, April 24th. Robert W. Baird raised their price target on TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Wall Street Zen downgraded TE Connectivity from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and an average target price of $162.50.

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.