TE Connectivity Ltd. $TEL Shares Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. raised its holdings in TE Connectivity Ltd. (NYSE:TEL) by 12.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 780 shares of the electronics maker’s stock after acquiring an additional 88 shares during the period. Cullen Frost Bankers Inc.’s holdings in TE Connectivity were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TEL. Brighton Jones LLC acquired a new position in TE Connectivity in the 4th quarter valued at $820,000. GAMMA Investing LLC grew its stake in shares of TE Connectivity by 55.9% during the 1st quarter. GAMMA Investing LLC now owns 4,977 shares of the electronics maker’s stock valued at $703,000 after buying an additional 1,784 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of TE Connectivity by 1.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,540 shares of the electronics maker’s stock valued at $2,479,000 after buying an additional 192 shares during the period. Spire Wealth Management grew its stake in shares of TE Connectivity by 10.8% during the 1st quarter. Spire Wealth Management now owns 933 shares of the electronics maker’s stock valued at $132,000 after buying an additional 91 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in shares of TE Connectivity by 508.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,849 shares of the electronics maker’s stock valued at $262,000 after buying an additional 1,545 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TEL. Truist Financial boosted their price objective on shares of TE Connectivity from $156.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 24th. KGI Securities raised shares of TE Connectivity to a “hold” rating in a research report on Thursday, July 24th. UBS Group upped their price target on shares of TE Connectivity from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Evercore ISI upped their price target on shares of TE Connectivity from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Finally, Wall Street Zen cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 31st. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, TE Connectivity currently has an average rating of “Moderate Buy” and a consensus target price of $222.00.

TE Connectivity Stock Performance

Shares of TEL stock opened at $235.66 on Friday. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $237.63. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. The firm has a market capitalization of $69.63 billion, a P/E ratio of 48.79, a P/E/G ratio of 2.54 and a beta of 1.26. The company’s fifty day moving average price is $215.12 and its two-hundred day moving average price is $183.71.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.19. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the business posted $1.91 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. On average, research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 21st will be issued a $0.71 dividend. The ex-dividend date is Friday, November 21st. This represents a $2.84 dividend on an annualized basis and a yield of 1.2%. TE Connectivity’s payout ratio is currently 58.80%.

Insiders Place Their Bets

In other TE Connectivity news, EVP John S. Jenkins sold 45,850 shares of the business’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $209.33, for a total value of $9,597,780.50. Following the transaction, the executive vice president owned 24,625 shares in the company, valued at $5,154,751.25. The trade was a 65.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shadrak W. Kroeger sold 23,850 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the completion of the sale, the insider owned 25,976 shares in the company, valued at approximately $5,272,868.24. This trade represents a 47.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,645 shares of company stock worth $14,842,096 in the last quarter. 0.90% of the stock is 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.