Suntrust Banks Inc. lowered its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,428 shares of the electronics maker’s stock after selling 889 shares during the quarter. Suntrust Banks Inc.’s holdings in TE Connectivity were worth $2,603,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in shares of TE Connectivity during the fourth quarter worth about $25,000. Taylor Hoffman Wealth Management raised its position in TE Connectivity by 432.8% in the 4th quarter. Taylor Hoffman Wealth Management now owns 357 shares of the electronics maker’s stock valued at $27,000 after buying an additional 290 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in TE Connectivity by 7,370.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,870,688 shares of the electronics maker’s stock valued at $38,000 after buying an additional 2,832,263 shares during the last quarter. Patten Group Inc. acquired a new stake in TE Connectivity in the 4th quarter valued at approximately $41,000. Finally, Bruderman Asset Management LLC raised its position in TE Connectivity by 916.7% in the 4th quarter. Bruderman Asset Management LLC now owns 610 shares of the electronics maker’s stock valued at $46,000 after buying an additional 550 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

TEL stock opened at $81.69 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.55 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $27.68 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 1.40 and a beta of 1.04. TE Connectivity Ltd has a twelve month low of $69.84 and a twelve month high of $102.65.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 23rd. The electronics maker reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.01. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.38 billion. TE Connectivity had a return on equity of 19.22% and a net margin of 20.06%. The business’s revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. On average, research analysts predict that TE Connectivity Ltd will post 5.45 earnings per share for the current fiscal year.

TE Connectivity declared that its board has approved a share repurchase program on Friday, December 14th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the electronics maker to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 22nd were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 21st. This represents a $1.76 dividend on an annualized basis and a yield of 2.15%. TE Connectivity’s dividend payout ratio is 31.37%.

In related news, CFO Heath A. Mitts sold 12,908 shares of the business’s stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $83.05, for a total value of $1,072,009.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Resch sold 34,050 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $82.70, for a total value of $2,815,935.00. Following the completion of the sale, the senior vice president now owns 68,790 shares of the company’s stock, valued at $5,688,933. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

A number of equities research analysts recently issued reports on the company. ValuEngine lowered TE Connectivity from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Zacks Investment Research upgraded TE Connectivity from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Royal Bank of Canada restated a “buy” rating and issued a $92.00 price target on shares of TE Connectivity in a research note on Sunday, January 6th. Finally, Robert W. Baird restated a “hold” rating and issued a $79.00 price target on shares of TE Connectivity in a research note on Sunday, January 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $97.78.

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TE Connectivity Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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