Fifth Third Bancorp Has $6.73 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Fifth Third Bancorp boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TELFree Report) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,863 shares of the electronics maker’s stock after buying an additional 833 shares during the period. Fifth Third Bancorp’s holdings in TE Connectivity were worth $6,725,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. IHT Wealth Management LLC lifted its position in TE Connectivity by 3.6% in the 2nd quarter. IHT Wealth Management LLC now owns 2,321 shares of the electronics maker’s stock valued at $325,000 after acquiring an additional 80 shares in the last quarter. Vista Investment Management grew its holdings in TE Connectivity by 0.7% during the third quarter. Vista Investment Management now owns 11,970 shares of the electronics maker’s stock worth $1,479,000 after buying an additional 84 shares in the last quarter. Bison Wealth LLC raised its position in TE Connectivity by 1.4% in the 3rd quarter. Bison Wealth LLC now owns 6,576 shares of the electronics maker’s stock valued at $812,000 after buying an additional 88 shares during the last quarter. Caprock Group LLC lifted its stake in TE Connectivity by 1.6% during the 4th quarter. Caprock Group LLC now owns 5,581 shares of the electronics maker’s stock valued at $784,000 after acquiring an additional 88 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in TE Connectivity by 14.2% during the 3rd quarter. GHP Investment Advisors Inc. now owns 756 shares of the electronics maker’s stock worth $92,000 after acquiring an additional 94 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TEL has been the topic of several analyst reports. Truist Financial boosted their price target on shares of TE Connectivity from $148.00 to $153.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Robert W. Baird upped their target price on TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Stifel Nicolaus boosted their price objective on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Citigroup assumed coverage on TE Connectivity in a research report on Friday, January 5th. They set a “neutral” rating and a $146.00 target price for the company. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a report on Monday. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $146.67.

Check Out Our Latest Report on TE Connectivity

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $143.98 on Tuesday. The company has a 50-day moving average price of $142.12 and a two-hundred day moving average price of $133.63. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $146.84. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $44.75 billion, a PE ratio of 13.66, a P/E/G ratio of 2.07 and a beta of 1.39.

TE Connectivity (NYSE:TELGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.13. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.87 billion. TE Connectivity had a net margin of 20.69% and a return on equity of 18.93%. TE Connectivity’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 EPS. Equities analysts forecast that TE Connectivity Ltd. will post 7.57 EPS for the current year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.60 annualized dividend and a yield of 1.81%. TE Connectivity’s dividend payout ratio is currently 22.39%.

TE Connectivity declared that its board has approved a stock buyback program on Tuesday, December 12th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the electronics maker to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at TE Connectivity

In other news, insider Steven T. Merkt sold 99,777 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the transaction, the insider now directly owns 30,459 shares in the company, valued at $4,386,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.86% of the company’s stock.

TE Connectivity Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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