Rakuten Investment Management Inc. Buys 52,119 Shares of TE Connectivity Ltd. $TEL

Rakuten Investment Management Inc. purchased a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 52,119 shares of the electronics maker’s stock, valued at approximately $11,080,000.

Other hedge funds have also recently made changes to their positions in the company. Independence Bank of Kentucky acquired a new position in TE Connectivity in the third quarter valued at approximately $26,000. Center for Financial Planning Inc. boosted its stake in TE Connectivity by 113.6% during the third quarter. Center for Financial Planning Inc. now owns 126 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 67 shares in the last quarter. JNBA Financial Advisors grew its holdings in TE Connectivity by 67.1% in the second quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 51 shares during the period. Bell Investment Advisors Inc increased its stake in TE Connectivity by 56.1% in the third quarter. Bell Investment Advisors Inc now owns 128 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 46 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of TE Connectivity during the 2nd quarter worth about $34,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Up 0.4%

NYSE TEL opened at $220.54 on Thursday. The stock has a market capitalization of $63.85 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.39 and a beta of 1.15. The business’s fifty day moving average is $212.04 and its 200-day moving average is $212.84. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.73 and a quick ratio of 1.18. TE Connectivity Ltd. has a one year low of $190.27 and a one year high of $252.56.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 EPS for the quarter, topping the consensus estimate of $3.07 by $0.07. TE Connectivity had a net margin of 16.36% and a return on equity of 25.55%. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the previous year, the firm posted $2.44 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities research analysts predict that TE Connectivity Ltd. will post 13.33 EPS for the current year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be paid a $0.78 dividend. The ex-dividend date is Friday, November 20th. This represents a $3.12 annualized dividend and a dividend yield of 1.4%. TE Connectivity’s dividend payout ratio (DPR) is presently 28.18%.

Analyst Ratings Changes

A number of research analysts recently weighed in on TEL shares. Wells Fargo & Company upped their price target on TE Connectivity from $209.00 to $220.00 and gave the stock a “cautious” rating in a research note on Friday, September 11th. The Goldman Sachs Group upped their price objective on shares of TE Connectivity from $284.00 to $288.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Truist Financial decreased their target price on shares of TE Connectivity from $240.00 to $215.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. HSBC decreased their price objective on TE Connectivity from $234.00 to $216.00 and set a “hold” rating for the company in a report on Thursday, July 23rd. Finally, Wall Street Zen raised TE Connectivity from a “hold” rating to a “buy” rating in a research report on Sunday, October 18th. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and an average target price of $255.50.

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.