TE Connectivity Ltd. (NYSE:TEL) Stock Holdings Increased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 114.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,889 shares of the electronics maker’s stock after purchasing an additional 1,541 shares during the period. Citizens Financial Group Inc. RI’s holdings in TE Connectivity were worth $413,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Pinnacle Bancorp Inc. acquired a new stake in shares of TE Connectivity in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its position in TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares during the period. Golden State Wealth Management LLC bought a new position in TE Connectivity during the 4th quarter valued at $44,000. Hilltop National Bank acquired a new position in shares of TE Connectivity during the 4th quarter valued at $55,000. Finally, Deseret Mutual Benefit Administrators bought a new stake in shares of TE Connectivity in the 4th quarter worth $57,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction on 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 owns 25,976 shares in the company, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL opened at $141.20 on Friday. The company has a market capitalization of $42.13 billion, a PE ratio of 22.56, a PEG ratio of 2.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company’s 50 day moving average price is $148.46 and its 200 day moving average price is $148.57. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 earnings per share. Research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.01%. This is a positive change from TE Connectivity’s previous quarterly dividend of $0.65. TE Connectivity’s dividend payout ratio (DPR) is presently 41.53%.

Analysts Set New Price Targets

TEL has been the topic of several research reports. Citigroup boosted their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. HSBC raised 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. Truist Financial decreased their target price on TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Finally, Robert W. Baird upped their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $167.00.

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.