Fifth Third Wealth Advisors LLC Purchases 1,233 Shares of TE Connectivity Ltd. (NYSE:TEL)

Fifth Third Wealth Advisors LLC raised its position in TE Connectivity Ltd. (NYSE:TEL) by 39.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,389 shares of the electronics maker’s stock after acquiring an additional 1,233 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in TE Connectivity were worth $663,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of TEL. Versant Capital Management Inc lifted its position in shares of TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares in the last quarter. Olistico Wealth LLC bought a new stake in TE Connectivity during the 2nd quarter worth about $30,000. Armstrong Advisory Group Inc. boosted its stake in shares of TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after buying an additional 150 shares during the last quarter. Bank & Trust Co bought a new position in shares of TE Connectivity in the 2nd quarter valued at about $35,000. Finally, Wolff Wiese Magana LLC increased its position in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 245 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Bank of America cut their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Truist Financial lifted their price target on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com assumed coverage on TE Connectivity in a research report on Saturday, November 16th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Trading Up 0.6 %

NYSE:TEL opened at $147.88 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98. The company has a market cap of $44.24 billion, a PE ratio of 14.40, a PEG ratio of 2.02 and a beta of 1.33. The firm has a 50-day moving average of $148.70 and a 200-day moving average of $149.44.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the firm posted $1.78 EPS. TE Connectivity’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts expect that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.

TE Connectivity announced that its board has initiated a share buyback program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

TE Connectivity Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 25th will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, November 22nd. This represents a yield of 1.75%. TE Connectivity’s dividend payout ratio (DPR) is presently 25.32%.

TE Connectivity 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.