Fifth Third Bancorp Has $6.11 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Fifth Third Bancorp trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,216 shares of the electronics maker’s stock after selling 428 shares during the quarter. Fifth Third Bancorp’s holdings in TE Connectivity were worth $6,107,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. SRS Capital Advisors Inc. boosted its stake in shares of TE Connectivity by 117.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 107 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of TE Connectivity during the fourth quarter worth about $43,000. Deseret Mutual Benefit Administrators bought a new position in shares of TE Connectivity during the fourth quarter worth about $57,000. Loomis Sayles & Co. L P raised its position in shares of TE Connectivity by 32.6% during the fourth quarter. Loomis Sayles & Co. L P now owns 500 shares of the electronics maker’s stock worth $71,000 after acquiring an additional 123 shares during the last quarter. Finally, Ancora Advisors LLC raised its position in shares of TE Connectivity by 150.0% during the fourth quarter. Ancora Advisors LLC now owns 500 shares of the electronics maker’s stock worth $71,000 after acquiring an additional 300 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Trading Down 2.1%

Shares of TE Connectivity stock opened at $162.48 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 52 week low of $116.30 and a 52 week high of $167.94. The stock has a 50 day moving average price of $150.32 and a two-hundred day moving average price of $148.11. The stock has a market capitalization of $48.18 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.14. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the firm posted $1.86 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a dividend of $0.71 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.84 annualized dividend and a dividend yield of 1.75%. TE Connectivity’s payout ratio is 62.42%.

Insider Activity at TE Connectivity

In other TE Connectivity news, EVP John S. Jenkins sold 30,000 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $149.39, for a total value of $4,481,700.00. Following the transaction, the executive vice president now owns 24,625 shares of the company’s stock, valued at approximately $3,678,728.75. The trade was a 54.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aaron Kyle Stucki sold 5,000 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $160.00, for a total value of $800,000.00. Following the completion of the transaction, the insider now directly owns 23,646 shares in the company, valued at approximately $3,783,360. This represents a 17.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,675 shares of company stock valued at $27,369,059 over the last 90 days. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

TEL has been the subject of a number of analyst reports. Wall Street Zen downgraded TE Connectivity from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. Robert W. Baird raised their price objective on TE Connectivity from $147.00 to $153.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Vertical Research upgraded TE Connectivity from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on TE Connectivity from $146.00 to $148.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lifted their target price on TE Connectivity from $148.00 to $156.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.50.

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.