Securian Asset Management Inc. Makes New $2.29 Million Investment in TE Connectivity Ltd. (NYSE:TEL)

Securian Asset Management Inc. acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,991 shares of the electronics maker’s stock, valued at approximately $2,286,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Great Lakes Advisors LLC grew its position in TE Connectivity by 19.1% in the 4th quarter. Great Lakes Advisors LLC now owns 2,486 shares of the electronics maker’s stock worth $355,000 after purchasing an additional 399 shares during the last quarter. Truvestments Capital LLC grew its position in TE Connectivity by 15.5% during the fourth quarter. Truvestments Capital LLC now owns 1,112 shares of the electronics maker’s stock worth $159,000 after buying an additional 149 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in TE Connectivity by 31.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 941 shares of the electronics maker’s stock valued at $134,000 after acquiring an additional 226 shares during the period. Sequoia Financial Advisors LLC acquired a new position in TE Connectivity in the 4th quarter valued at approximately $1,047,000. Finally, Saturna Capital Corp lifted its position in shares of TE Connectivity by 0.9% in the 4th quarter. Saturna Capital Corp now owns 13,565 shares of the electronics maker’s stock worth $1,939,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

NYSE:TEL opened at $141.20 on Friday. 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 $42.13 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The firm has a 50 day moving average of $148.46 and a 200-day moving average of $148.57. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $1.84 earnings per share. As a group, sell-side analysts anticipate 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 paid a $0.71 dividend. 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 2.01%. TE Connectivity’s dividend payout ratio (DPR) is 41.53%.

Analyst Ratings Changes

A number of analysts have recently issued reports on TEL shares. Truist Financial lowered their price objective on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a report on Thursday, January 23rd. Robert W. Baird raised their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Bank of America upped their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $167.00.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 25,000 shares of the company’s stock in a transaction dated 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 directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This 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 corporate insiders.

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.