Victory Capital Management Inc. Has $22.17 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Manning & Napier Advisors LLC bought a new position in TE Connectivity during the second quarter worth $15,847,000. CANADA LIFE ASSURANCE Co increased its position in TE Connectivity by 5.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 283,128 shares of the electronics maker’s stock worth $41,117,000 after acquiring an additional 15,052 shares during the period. Marshall Financial Group LLC bought a new position in TE Connectivity during the second quarter worth $995,000. Venturi Wealth Management LLC increased its position in TE Connectivity by 1,632.0% during the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after acquiring an additional 6,169 shares during the period. Finally, Waverton Investment Management Ltd increased its position in TE Connectivity by 8.2% during the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after acquiring an additional 106,688 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 0.0 %

Shares of TE Connectivity stock opened at $148.36 on Tuesday. The stock has a market capitalization of $44.38 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 2.02 and a beta of 1.33. 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 company has a 50-day simple moving average of $148.57 and a 200 day simple moving average 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 issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The company’s revenue was up .8% on a year-over-year basis. Research analysts expect 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 approved a share repurchase program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

TE Connectivity Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.65 per share. This represents a yield of 1.75%. The ex-dividend date of this dividend is Friday, November 22nd. TE Connectivity’s dividend payout ratio is currently 25.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TEL shares. Robert W. Baird boosted 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. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a report on Thursday, October 31st. Vertical Research initiated coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target on the stock. StockNews.com initiated coverage on shares of TE Connectivity in a report on Saturday. They issued a “buy” rating on the stock. Finally, Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $159.55.

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.