Nomura Asset Management Co. Ltd. Cuts Position in TE Connectivity Ltd. (NYSE:TEL)

Nomura Asset Management Co. Ltd. lowered its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 240,749 shares of the electronics maker’s stock after selling 2,525 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in TE Connectivity were worth $34,420,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TEL. Modera Wealth Management LLC grew its stake in TE Connectivity by 2.8% in the 4th quarter. Modera Wealth Management LLC now owns 2,861 shares of the electronics maker’s stock valued at $409,000 after acquiring an additional 78 shares during the period. King Luther Capital Management Corp lifted its holdings in TE Connectivity by 0.6% during the fourth quarter. King Luther Capital Management Corp now owns 14,006 shares of the electronics maker’s stock valued at $2,002,000 after purchasing an additional 83 shares in the last quarter. Ascent Wealth Partners LLC grew its position in shares of TE Connectivity by 1.0% in the fourth quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock valued at $1,231,000 after purchasing an additional 85 shares during the period. Moors & Cabot Inc. increased its stake in shares of TE Connectivity by 6.0% during the fourth quarter. Moors & Cabot Inc. now owns 1,680 shares of the electronics maker’s stock worth $240,000 after purchasing an additional 95 shares in the last quarter. Finally, Callan Capital LLC raised its position in shares of TE Connectivity by 5.4% during the 4th quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock worth $296,000 after purchasing an additional 106 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

TE Connectivity stock opened at $142.04 on Friday. The firm has a 50 day simple moving average of $149.32 and a 200-day simple moving average of $148.38. The stock has a market cap of $42.38 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. 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 $137.61 and a 1-year high of $159.98.

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

TE Connectivity Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 21st will be given a $0.71 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $2.84 dividend on an annualized basis and a yield of 2.00%. This is a boost from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio is presently 45.37%.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were 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. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on TEL. Truist Financial cut 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. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Bank of America increased their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $167.00.

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.