Mizuho Securities USA LLC Grows Position in TE Connectivity Ltd. (NYSE:TEL)

Mizuho Securities USA LLC grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 43.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,354 shares of the electronics maker’s stock after purchasing an additional 8,646 shares during the quarter. Mizuho Securities USA LLC’s holdings in TE Connectivity were worth $4,054,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity in the fourth quarter worth $26,000. SRS Capital Advisors Inc. lifted its stake in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 107 shares during the period. Fairway Wealth LLC purchased a new stake in TE Connectivity in the fourth quarter worth $43,000. Golden State Wealth Management LLC purchased a new stake in TE Connectivity in the fourth quarter worth $44,000. Finally, Hilltop National Bank purchased a new stake in TE Connectivity in the fourth quarter worth $55,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated 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 sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TEL. Truist Financial dropped their price target 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. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $146.10 on Monday. 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 current ratio of 1.68 and a quick ratio of 1.10. The business has a fifty day moving average price of $148.91 and a 200-day moving average price of $148.34. The company has a market capitalization of $43.59 billion, a PE ratio of 23.34, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 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 the consensus estimate of $3.92 billion. During the same period last year, the company earned $1.84 EPS. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.94%. This is an increase from TE Connectivity’s previous quarterly dividend of $0.65. The ex-dividend date is Wednesday, May 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 45.37%.

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.