Daiwa Securities Group Inc. Increases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Daiwa Securities Group Inc. raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,177 shares of the electronics maker’s stock after acquiring an additional 2,303 shares during the period. Daiwa Securities Group Inc.’s holdings in TE Connectivity were worth $7,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. NBT Bank N A NY acquired a new stake in shares of TE Connectivity in the 4th quarter valued at about $764,000. Atlantic Union Bankshares Corp lifted its stake in TE Connectivity by 239.4% in the fourth quarter. Atlantic Union Bankshares Corp now owns 7,535 shares of the electronics maker’s stock valued at $1,077,000 after buying an additional 5,315 shares during the last quarter. Amundi acquired a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $159,992,000. Dorsey & Whitney Trust CO LLC grew its position in shares of TE Connectivity by 52.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,480 shares of the electronics maker’s stock worth $355,000 after acquiring an additional 853 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of TE Connectivity by 238.0% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 646,692 shares of the electronics maker’s stock valued at $98,979,000 after acquiring an additional 455,379 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Down 2.3 %

NYSE:TEL opened at $144.57 on Wednesday. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The stock has a fifty day moving average price of $148.44 and a two-hundred day moving average price of $148.66. The stock has a market capitalization of $43.13 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 EPS. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TEL shares. Robert W. Baird raised their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company upped their price objective on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Citigroup lifted their target price on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Truist Financial dropped their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report 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.com, the stock has an average rating of “Hold” and a consensus target price of $167.00.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

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.