Leo Wealth LLC Acquires New Holdings in TE Connectivity Ltd. $TEL

Leo Wealth LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,018 shares of the electronics maker’s stock, valued at approximately $637,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of TE Connectivity by 48.2% in the 2nd quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker’s stock valued at $1,554,259,000 after acquiring an additional 2,507,569 shares during the last quarter. Hsbc Holdings PLC grew its position in TE Connectivity by 385.0% during the 1st quarter. Hsbc Holdings PLC now owns 1,115,692 shares of the electronics maker’s stock worth $232,677,000 after acquiring an additional 885,658 shares during the last quarter. State Street Corp increased its holdings in TE Connectivity by 5.7% in the 2nd quarter. State Street Corp now owns 13,639,381 shares of the electronics maker’s stock worth $2,750,079,000 after purchasing an additional 730,084 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in TE Connectivity by 415.4% in the 2nd quarter. Alyeska Investment Group L.P. now owns 849,218 shares of the electronics maker’s stock worth $171,211,000 after purchasing an additional 684,463 shares in the last quarter. Finally, Amundi raised its position in TE Connectivity by 37.2% in the first quarter. Amundi now owns 2,256,878 shares of the electronics maker’s stock valued at $471,733,000 after purchasing an additional 612,180 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

TEL has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on TE Connectivity from $260.00 to $235.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Jefferies Financial Group lowered their price objective on TE Connectivity from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Wall Street Zen upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating in a report on Sunday, October 18th. UBS Group lifted their target price on shares of TE Connectivity from $241.00 to $253.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. Finally, Truist Financial reduced their target price on shares of TE Connectivity from $240.00 to $215.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $258.07.

TE Connectivity Trading Up 5.1%

NYSE TEL opened at $224.75 on Wednesday. The business’s 50-day moving average price is $210.07 and its two-hundred day moving average price is $213.31. TE Connectivity Ltd. has a 12 month low of $190.27 and a 12 month high of $252.56.

TE Connectivity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be issued a $0.78 dividend. The ex-dividend date is Friday, November 20th. This represents a $3.12 annualized dividend and a yield of 1.4%.

TE Connectivity 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.