TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,810 shares of the electronics maker’s stock after purchasing an additional 1,154 shares during the period. Victory Capital Management Inc.’s holdings in TE Connectivity were worth $22,167,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Simplicity Wealth LLC grew its stake in shares of TE Connectivity by 2.7% in the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock worth $377,000 after purchasing an additional 67 shares during the last quarter. Silvercrest Asset Management Group LLC grew its stake in shares of TE Connectivity by 2.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after purchasing an additional 68 shares during the last quarter. Optas LLC grew its stake in shares of TE Connectivity by 4.2% in the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after purchasing an additional 71 shares during the last quarter. Gradient Investments LLC increased its position in shares of TE Connectivity by 2.2% in the second quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker’s stock worth $542,000 after acquiring an additional 76 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of TE Connectivity by 3.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,297 shares of the electronics maker’s stock worth $346,000 after acquiring an additional 76 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

NYSE TEL opened at $148.36 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $44.38 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 2.02 and a beta of 1.33. The company has a 50 day moving average price of $148.57 and a two-hundred day moving average price of $149.42. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 earnings per share. As a group, equities analysts predict that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

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

TE Connectivity Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Vertical Research assumed coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price on the stock. StockNews.com assumed coverage on shares of TE Connectivity in a research report on Saturday. They issued a “buy” rating on the stock. Finally, Robert W. Baird lifted their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $159.55.

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.