Security National Bank of SO Dak Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Security National Bank of SO Dak acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 10,712 shares of the electronics maker’s stock, valued at approximately $1,531,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Silvercrest Asset Management Group LLC lifted its holdings in TE Connectivity by 2.1% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 3,732 shares of the electronics maker’s stock worth $534,000 after purchasing an additional 75 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of TE Connectivity by 95.4% in the fourth quarter. Royal Bank of Canada now owns 1,277,319 shares of the electronics maker’s stock worth $182,618,000 after buying an additional 623,652 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of TE Connectivity in the fourth quarter worth about $792,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of TE Connectivity in the fourth quarter valued at approximately $3,401,000. Finally, Point72 Asset Management L.P. grew its stake in TE Connectivity by 1,089.8% during the fourth quarter. Point72 Asset Management L.P. now owns 730,864 shares of the electronics maker’s stock valued at $104,492,000 after acquiring an additional 669,435 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 1.8%

Shares of TEL opened at $163.58 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 1 year low of $116.30 and a 1 year high of $163.61. The stock has a 50 day simple moving average of $141.62 and a two-hundred day simple moving average of $146.56. The firm has a market cap of $48.51 billion, a P/E ratio of 26.13, a P/E/G ratio of 2.11 and a beta of 1.24.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.97 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.86 earnings per share. On average, analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share 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 paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. This represents a $2.84 annualized dividend and a dividend yield of 1.74%. TE Connectivity’s payout ratio is 62.42%.

Insiders Place Their Bets

In other news, CFO Heath A. Mitts sold 37,844 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 45,503 shares in the company, valued at approximately $6,976,974.99. The trade was a 45.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the transaction, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,675 shares of company stock worth $27,062,559. 0.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TEL has been the topic of several recent analyst reports. UBS Group reiterated a “buy” rating and issued a $163.00 target price (up from $155.00) on shares of TE Connectivity in a research note on Thursday, April 24th. Citigroup lowered their price objective on TE Connectivity from $165.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Truist Financial dropped their price objective on TE Connectivity from $163.00 to $156.00 and set a “hold” rating for the company in a research note on Thursday, April 24th. Vertical Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Friday, April 25th. Finally, The Goldman Sachs Group dropped their price target on TE Connectivity from $190.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.