Citizens Financial Group Inc. RI Invests $203,000 in TE Connectivity Ltd. (NYSE:TEL)

Citizens Financial Group Inc. RI purchased a new position in TE Connectivity Ltd. (NYSE:TEL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,350 shares of the electronics maker’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently made changes to their positions in TEL. Salem Investment Counselors Inc. boosted its stake in shares of TE Connectivity by 112.4% in the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Versant Capital Management Inc boosted its stake in TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after buying an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new position in TE Connectivity during the second quarter worth $30,000. Sachetta LLC acquired a new position in TE Connectivity during the fourth quarter worth $34,000. Finally, Bank & Trust Co acquired a new position in TE Connectivity during the second quarter worth $35,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TEL. Robert W. Baird boosted their price objective on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Truist Financial boosted their price objective on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Hsbc Global Res raised TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Bank of America upped their price target on TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Vertical Research assumed coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $158.45.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $149.41 on Friday. The stock’s 50-day moving average is $149.74 and its two-hundred day moving average is $147.36. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98. The company has a market cap of $45.41 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the business earned $1.77 EPS. TE Connectivity’s revenue was up .1% on a year-over-year basis. Analysts forecast that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

Insider Activity

In other news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the transaction, the senior vice president now owns 25,504 shares in the company, valued at approximately $3,942,663.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the transaction, the senior vice president now owns 25,504 shares in the company, valued at approximately $3,942,663.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the transaction, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is currently owned by insiders.

TE Connectivity Company 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.