TE Connectivity Ltd. $TEL Position Boosted by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group increased its TE Connectivity position by 149.9% in the third quarter, bringing its holdings to 12,309 shares valued at approximately $2.6 million. Institutional investors collectively own 91.43% of the company.
• TE Connectivity declared a quarterly dividend of $0.78 per share, equivalent to $3.12 annually and a 1.5% yield, with a 30.59% payout ratio.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $258.07 versus the stock’s reported price of $214.08.

Citizens Financial Group Inc. RI lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 149.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,309 shares of the electronics maker's stock after purchasing an additional 7,384 shares during the period. Citizens Financial Group Inc. RI's holdings in TE Connectivity were worth $2,598,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TEL. Benjamin Edwards Inc. increased its stake in TE Connectivity by 324.9% during the 2nd quarter. Benjamin Edwards Inc. now owns 62,370 shares of the electronics maker's stock valued at $12,574,000 after buying an additional 47,691 shares during the period. Hsbc Holdings PLC boosted its stake in shares of TE Connectivity by 11.1% during the 4th quarter. Hsbc Holdings PLC now owns 230,034 shares of the electronics maker's stock worth $52,506,000 after acquiring an additional 23,074 shares in the last quarter. State Street Corp raised its holdings in TE Connectivity by 5.7% during the 2nd quarter. State Street Corp now owns 13,639,381 shares of the electronics maker's stock worth $2,750,079,000 after buying an additional 730,084 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of TE Connectivity by 8.1% in the second quarter. QRG Capital Management Inc. now owns 154,278 shares of the electronics maker's stock worth $31,104,000 after buying an additional 11,519 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of TE Connectivity by 3.3% in the second quarter. Envestnet Asset Management Inc. now owns 1,504,559 shares of the electronics maker's stock worth $303,332,000 after acquiring an additional 48,212 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Performance

Shares of TEL stock opened at $214.08 on Tuesday. The stock has a 50-day moving average of $209.98 and a 200-day moving average of $213.42. The stock has a market cap of $61.98 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.22 and a beta of 1.14. TE Connectivity Ltd. has a one year low of $190.27 and a one year high of $252.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.23.

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, November 20th. TE Connectivity's dividend payout ratio is 30.59%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Robert W. Baird increased their target price on TE Connectivity from $225.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, October 6th. Jefferies Financial Group reduced their price objective on shares of TE Connectivity from $265.00 to $235.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. The Goldman Sachs Group increased their target price on TE Connectivity from $284.00 to $288.00 and gave the company a "buy" rating in a research note on Tuesday, October 6th. Wall Street Zen upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating in a report on Sunday, October 18th. Finally, Citigroup reduced their price objective on shares of TE Connectivity from $250.00 to $230.00 and set a "buy" rating for the company in a report on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, TE Connectivity has a consensus rating of "Moderate Buy" and an average target price of $258.07.

TE Connectivity Company Profile

TE Connectivity Ltd. NYSE: TEL is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products help transmit power, data and signals across a range of applications, including vehicles, industrial equipment, communications networks, aerospace systems, medical devices and consumer electronics.

The company's product portfolio includes connectors, terminals, relays, sensors, antennas, circuit-protection products, wire and cable assemblies, and related application tooling.

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