TE Connectivity Ltd. $TEL Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. grew its stake in TE Connectivity Ltd. (NYSE:TEL) by 12.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 780 shares of the electronics maker’s stock after purchasing an additional 88 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in TE Connectivity were worth $132,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in TE Connectivity by 17.0% during the first quarter. Vanguard Group Inc. now owns 37,881,410 shares of the electronics maker’s stock worth $5,353,401,000 after acquiring an additional 5,502,415 shares during the period. Dodge & Cox raised its stake in TE Connectivity by 0.4% during the first quarter. Dodge & Cox now owns 16,022,480 shares of the electronics maker’s stock worth $2,264,297,000 after acquiring an additional 56,871 shares during the period. Wellington Management Group LLP raised its stake in TE Connectivity by 17.2% during the first quarter. Wellington Management Group LLP now owns 7,459,195 shares of the electronics maker’s stock worth $1,054,133,000 after acquiring an additional 1,097,035 shares during the period. Ameriprise Financial Inc. raised its stake in TE Connectivity by 17.1% during the first quarter. Ameriprise Financial Inc. now owns 6,563,527 shares of the electronics maker’s stock worth $927,571,000 after acquiring an additional 960,276 shares during the period. Finally, EdgePoint Investment Group Inc. raised its stake in TE Connectivity by 5.8% during the first quarter. EdgePoint Investment Group Inc. now owns 4,108,472 shares of the electronics maker’s stock worth $580,609,000 after acquiring an additional 224,422 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Up 0.7%

TE Connectivity stock opened at $235.66 on Friday. The firm has a 50 day simple moving average of $215.12 and a 200-day simple moving average of $183.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.52 and a quick ratio of 0.96. The stock has a market capitalization of $69.63 billion, a PE ratio of 48.79, a price-to-earnings-growth ratio of 2.54 and a beta of 1.26. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $237.63.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.19. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.30 billion. TE Connectivity had a net margin of 8.78% and a return on equity of 20.22%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm posted $1.91 earnings per share. As a group, equities research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be issued a $0.71 dividend. The ex-dividend date is Friday, November 21st. This represents a $2.84 annualized dividend and a dividend yield of 1.2%. TE Connectivity’s dividend payout ratio (DPR) is 58.80%.

Analyst Upgrades and Downgrades

TEL has been the topic of several research reports. Citigroup increased their price objective on shares of TE Connectivity from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. increased their price objective on shares of TE Connectivity from $186.00 to $204.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. UBS Group upped their target price on shares of TE Connectivity from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Barclays assumed coverage on shares of TE Connectivity in a research report on Tuesday, October 7th. They issued an “overweight” rating and a $249.00 target price for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TE Connectivity in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, TE Connectivity has a consensus rating of “Moderate Buy” and a consensus target price of $222.00.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 23,850 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $202.99, for a total transaction of $4,841,311.50. Following the completion of the sale, the insider directly owned 25,976 shares in the company, valued at approximately $5,272,868.24. This trade represents a 47.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Malavika Sagar sold 1,945 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $207.20, for a total transaction of $403,004.00. Following the sale, the senior vice president owned 4,716 shares of the company’s stock, valued at $977,155.20. The trade was a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,645 shares of company stock worth $14,842,096 over the last three months. Corporate insiders own 0.90% of the company’s stock.

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.