TE Connectivity Ltd. $TEL Stock Purchased by Vest Financial LLC

Vest Financial LLC raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 31.8% during the third quarter, HoldingsChannel reports. The fund owned 38,915 shares of the electronics maker’s stock after buying an additional 9,400 shares during the period. Vest Financial LLC’s holdings in TE Connectivity were worth $8,214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Benjamin Edwards Inc. grew its position in TE Connectivity by 324.9% during the 2nd quarter. Benjamin Edwards Inc. now owns 62,370 shares of the electronics maker’s stock valued at $12,574,000 after purchasing an additional 47,691 shares during the last quarter. Hsbc Holdings PLC increased its stake in TE Connectivity by 11.1% during the 4th quarter. Hsbc Holdings PLC now owns 230,034 shares of the electronics maker’s stock valued at $52,506,000 after purchasing an additional 23,074 shares in the last quarter. QRG Capital Management Inc. raised its holdings in TE Connectivity by 8.1% in the second quarter. QRG Capital Management Inc. now owns 154,278 shares of the electronics maker’s stock worth $31,104,000 after buying an additional 11,519 shares during the last quarter. Seascape Capital Management purchased a new position in TE Connectivity in the first quarter worth about $2,256,000. Finally, State Street Corp raised its holdings in TE Connectivity by 5.7% in the second quarter. State Street Corp now owns 13,639,381 shares of the electronics maker’s stock worth $2,750,079,000 after buying an additional 730,084 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Trading Down 2.7%

TE Connectivity stock opened at $208.24 on Friday. TE Connectivity Ltd. has a one year low of $190.27 and a one year high of $252.56. The business’s fifty day moving average is $210.00 and its 200 day moving average is $210.48. The stock has a market capitalization of $60.29 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.23.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.09. The business had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.01 billion. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%. TE Connectivity’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.27 EPS. On average, sell-side analysts predict that TE Connectivity Ltd. will post 11.46 EPS for the current year.

TE Connectivity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. TE Connectivity’s dividend payout ratio (DPR) is presently 30.59%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of TE Connectivity in a research note on Friday, July 24th. Robert W. Baird raised their price target on shares of TE Connectivity from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, October 6th. Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $209.00 to $220.00 and gave the stock a “cautious” rating in a report on Friday, September 11th. Jefferies Financial Group decreased their price objective on shares of TE Connectivity from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group upped their price objective on TE Connectivity from $284.00 to $288.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.07.

TE Connectivity Company Profile

TE Connectivity Ltd. (NYSE: TEL) is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products help transmit power, data and signals across a range of applications, including vehicles, industrial equipment, communications networks, aerospace systems, medical devices and consumer electronics.

The company’s product portfolio includes connectors, terminals, relays, sensors, antennas, circuit-protection products, wire and cable assemblies, and related application tooling.