Soltis Investment Advisors LLC Makes New $651,000 Investment in TE Connectivity Ltd. $TEL

Soltis Investment Advisors LLC purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 3,084 shares of the electronics maker’s stock, valued at approximately $651,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JNBA Financial Advisors boosted its stake in TE Connectivity by 67.1% in the second quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock valued at $26,000 after acquiring an additional 51 shares in the last quarter. Independence Bank of Kentucky acquired a new stake in shares of TE Connectivity during the third quarter worth about $26,000. Center for Financial Planning Inc. increased its position in shares of 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 purchasing an additional 67 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in shares of TE Connectivity in the 2nd quarter valued at about $34,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of TE Connectivity by 43.5% in the 3rd quarter. Fortitude Family Office LLC now owns 211 shares of the electronics maker’s stock valued at $45,000 after purchasing an additional 64 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Trading Down 4.4%

Shares of TE Connectivity stock opened at $212.87 on Friday. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.23 and a current ratio of 1.73. The company has a market capitalization of $61.63 billion, a P/E ratio of 19.23, a PEG ratio of 1.35 and a beta of 1.14. The company’s fifty day moving average is $211.03 and its two-hundred day moving average is $213.13.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.07. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the business posted $2.44 EPS. The company’s revenue was up 11.9% on a year-over-year basis. Analysts forecast that TE Connectivity Ltd. will post 13.32 earnings per share for the current year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity’s dividend payout ratio (DPR) is 28.18%.

Wall Street Analyst Weigh In

TEL has been the subject of a number of research analyst reports. HSBC decreased their target price on TE Connectivity from $234.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Robert W. Baird lifted their price target on TE Connectivity from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 6th. Jefferies Financial Group reduced 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. Truist Financial reduced their price objective on TE Connectivity from $240.00 to $215.00 and set a “hold” rating for the company in a research note on Thursday, July 23rd. Finally, Wells Fargo & Company increased their price objective on TE Connectivity from $209.00 to $220.00 and gave the company a “cautious” rating in a report on Friday, September 11th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.21.

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.