TE Connectivity Ltd. (NYSE:TEL) Position Boosted by Commerce Bank

Commerce Bank raised its position in TE Connectivity Ltd. (NYSE:TEL) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 405,318 shares of the electronics maker’s stock after purchasing an additional 1,649 shares during the quarter. Commerce Bank’s holdings in TE Connectivity were worth $61,199,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Versant Capital Management Inc grew its holdings in TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new position in TE Connectivity in the 2nd quarter valued at $30,000. Armstrong Advisory Group Inc. raised its holdings in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares during the period. Bank & Trust Co acquired a new position in TE Connectivity during the 2nd quarter worth $35,000. Finally, Wolff Wiese Magana LLC boosted its holdings in TE Connectivity by 2,450.0% during 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 period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 1.0 %

NYSE TEL opened at $146.95 on Wednesday. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98. The company has a market capitalization of $43.96 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 2.02 and a beta of 1.33. The stock’s 50 day moving average is $148.63 and its two-hundred day moving average is $149.45. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the firm earned $1.78 EPS. TE Connectivity’s quarterly revenue was up .8% on a year-over-year basis. Equities analysts forecast that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

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

TE Connectivity announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TEL shares. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. The Goldman Sachs Group lowered their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Wells Fargo & Company dropped their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. Finally, HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and a consensus price target of $159.55.

About TE Connectivity

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.