JPMorgan Chase & Co. Buys 316,849 Shares of TE Connectivity Ltd. (NYSE:TEL)

JPMorgan Chase & Co. grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 23.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,664,096 shares of the electronics maker’s stock after buying an additional 316,849 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.56% of TE Connectivity worth $237,916,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of TE Connectivity by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock worth $4,629,225,000 after purchasing an additional 4,029,596 shares during the last quarter. Amundi bought a new stake in TE Connectivity during the 4th quarter worth approximately $159,992,000. Nordea Investment Management AB acquired a new position in TE Connectivity in the 4th quarter valued at approximately $149,211,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of TE Connectivity by 2,330.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock valued at $107,738,000 after acquiring an additional 722,565 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after purchasing an additional 712,228 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Trading Down 0.5 %

NYSE:TEL opened at $141.36 on Tuesday. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $42.18 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 2.11 and a beta of 1.32. The firm has a fifty day simple moving average of $149.23 and a two-hundred day simple moving average of $148.42.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating 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 the consensus estimate of $3.92 billion. During the same period last year, the business posted $1.84 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Wednesday, May 21st. TE Connectivity’s dividend payout ratio is presently 45.37%.

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TEL. Bank of America raised their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Truist Financial dropped their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, Citigroup increased their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and a consensus price target 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.