First Citizens Bank & Trust Co. has increased its stake in TE Connectivity Ltd. (TEL:NYE) by 16.2% in the fourth quarter, as per the latest filing with the SEC. The bank now owns 17,322 shares of the TEL stock, up by 2,410 shares from the previous quarter. The holding is valued at $1,989,000 as of the filing date.
Hedge Funds & Institutional Holdings:
Other institutional investors and hedge funds have also been purchasing and selling shares of the company. TD Capital Management LLC bought a new stake in TE Connectivity in Q3 2022 worth $27,000.
Trustcore Financial Services LLC increased its holdings by 107.7% in the same period, now owning 270 shares of TEL stock valued at $30,000.
Ellevest Inc. lifted its holdings in TEL by 78.3% and Guardian Wealth Advisors LLC bought a new stake in TEL, both in Q3 2022, worth $31,000 each.
NuWave Investment Management LLC also bought a new stake in TEL in the same period, valued at $42,000. Institutional investors and hedge funds now own 91.10% of the company’s stock.
TEL Stock-Analyst Ratings:
Several Wall Street analysts have recently commented on TEL’s shares. Wolfe Research downgraded TEL from an “outperform” rating to a “peer perform” rating, while JPMorgan Chase & Co. cut its price target from $135.00 to $130.00 and gave the company a “neutral” rating.
Stifel Nicolaus downgraded TEL from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. Credit Suisse Group also dropped its price objective from $123.00 to $117.00 and set a “neutral” rating for the company.
TEL Stock Price Analysis:
Shares of TEL:NYE opened at $131.15 on Monday. TEL has a debt-to-equity ratio of 0.30, a quick ratio of 0.99, and a current ratio of 1.66.
The stock has a market capitalization of $41.50 billion, a P/E ratio of 18.76, a PEG ratio of 2.91, and a beta of 1.32. Its 52-week low is $104.76 and its 52-week high is $138.24. The stock has a 50-day simple moving average of $128.04 and a 200-day simple moving average of $122.18.
The consensus price target of TEL stock is $135.83, according to Stock Target Advisor.
Quarterly Earnings Review:
TE Connectivity last reported its earnings on January 25th, with earnings per share (EPS) of $1.53 for the quarter, beating analysts’ estimates by $0.03. The company had a return on equity of 21.25% and a net margin of 13.85%.
TEL’s revenue for the quarter was $3.84 billion, up by 0.6% YoY and above analysts’ expectations of $3.76 billion. Equities analysts predict that TEL will report earnings per share of $6.56 for the current year.
TEL Stock Dividend:
TEL recently announced a quarterly dividend to be paid on March 1st to stockholders of record on February 16th. The dividend per share is $0.59, representing an annualized dividend of $2.36 and a dividend yield of 1.
Company Profile:
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor 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.
The company was formerly known as Tyco Electronics Ltd. and changed its name to TE Connectivity Ltd. in March 2011. TE Connectivity Ltd. was incorporated in 2000 and is based in Schaffhausen, Switzerland.
