UNIVEST FINANCIAL Corp Acquires 26,349 Shares of TE Connectivity Ltd. (NYSE:TEL)

UNIVEST FINANCIAL Corp raised its holdings in TE Connectivity Ltd. (NYSE:TEL) by 53.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,096 shares of the electronics maker’s stock after buying an additional 26,349 shares during the period. UNIVEST FINANCIAL Corp’s holdings in TE Connectivity were worth $10,879,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TEL. Mitsubishi UFJ Trust & Banking Corp boosted its position in TE Connectivity by 67.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 400,892 shares of the electronics maker’s stock valued at $57,316,000 after purchasing an additional 161,595 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of TE Connectivity by 6.0% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,423 shares of the electronics maker’s stock valued at $775,000 after buying an additional 309 shares during the last quarter. TIAA Trust National Association grew its stake in shares of TE Connectivity by 8.7% in the fourth quarter. TIAA Trust National Association now owns 3,122 shares of the electronics maker’s stock valued at $446,000 after buying an additional 251 shares in the last quarter. Taikang Asset Management Hong Kong Co Ltd acquired a new position in TE Connectivity during the fourth quarter worth $4,647,000. Finally, Haverford Trust Co lifted its stake in TE Connectivity by 1.1% in the fourth quarter. Haverford Trust Co now owns 207,734 shares of the electronics maker’s stock valued at $29,700,000 after acquiring an additional 2,240 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. 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 research note on Thursday, January 23rd. Robert W. Baird raised their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report 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. Bank of America increased their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company upped their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Stock Up 1.1 %

NYSE TEL opened at $150.56 on Wednesday. The company has a market cap of $44.92 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year 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 company has a 50 day moving average of $149.22 and a 200-day moving average of $148.40.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the company posted $1.84 EPS. The company’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share 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 $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. 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 1.89%. TE Connectivity’s payout ratio is presently 45.37%.

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 on Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total transaction of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at $3,812,497.52. This represents a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by 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.