Huntington National Bank Purchases 204 Shares of TE Connectivity Ltd. (NYSE:TEL)

Huntington National Bank grew its position in TE Connectivity Ltd. (NYSE:TEL) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,870 shares of the electronics maker’s stock after purchasing an additional 204 shares during the quarter. Huntington National Bank’s holdings in TE Connectivity were worth $585,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Simplicity Wealth LLC raised its stake in 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 in the last quarter. Silvercrest Asset Management Group LLC raised its position in shares of TE Connectivity by 2.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after buying an additional 68 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in TE Connectivity by 3.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after buying an additional 69 shares in the last quarter. Optas LLC increased its stake in TE Connectivity by 4.2% during the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after acquiring an additional 71 shares during the period. Finally, Gradient Investments LLC raised its holdings in TE Connectivity by 2.2% in the 2nd quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker’s stock valued at $542,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Bank of America dropped their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research report on Thursday, October 31st. Finally, Truist Financial raised their target price on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Stock Performance

NYSE:TEL opened at $148.35 on Friday. The stock’s 50-day moving average is $148.50 and its 200-day moving average is $149.24. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The stock has a market cap of $44.38 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 EPS. Equities research analysts anticipate that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has approved a stock buyback 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 repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.