Meiji Yasuda Asset Management Co Ltd. Has $775,000 Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,423 shares of the electronics maker’s stock after buying an additional 309 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in TE Connectivity were worth $775,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TEL. Vanguard Group Inc. increased its stake in shares of TE Connectivity by 14.2% in the 4th quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after buying an additional 4,029,596 shares during the period. State Street Corp boosted its holdings in TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after acquiring an additional 268,837 shares during the last quarter. Geode Capital Management LLC raised its holdings in TE Connectivity by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after purchasing an additional 75,658 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in TE Connectivity by 15.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock worth $536,083,000 after purchasing an additional 488,680 shares during the last quarter. Finally, EdgePoint Investment Group Inc. boosted its stake in shares of TE Connectivity by 26.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after purchasing an additional 694,917 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TEL shares. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a report on Thursday, January 23rd. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Truist Financial decreased their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Robert W. Baird increased their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Citigroup boosted their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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 TE Connectivity 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 sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of TEL opened at $147.00 on Friday. The stock has a 50 day simple moving average of $149.41 and a 200 day simple moving average of $148.40. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week 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 firm has a market capitalization of $43.86 billion, a PE ratio of 23.48, a P/E/G ratio of 2.11 and a beta of 1.32.

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

TE Connectivity Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be paid a $0.71 dividend. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.93%. TE Connectivity’s dividend payout ratio (DPR) is currently 45.37%.

TE Connectivity Company 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.