TE Connectivity Ltd. $TEL Shares Newly Purchased by Parcion Private Wealth LLC

Parcion Private Wealth LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL) during the third quarter, Holdings Channel.com reports. The institutional investor bought 2,363 shares of the electronics maker’s stock, valued at approximately $499,000.

Other hedge funds also recently bought and sold shares of the company. Independence Bank of Kentucky purchased a new position in shares of TE Connectivity during the 3rd quarter worth approximately $26,000. Center for Financial Planning Inc. increased its holdings in TE Connectivity by 113.6% in the 3rd quarter. Center for Financial Planning Inc. now owns 126 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. JNBA Financial Advisors raised its position 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 purchasing an additional 51 shares during the period. Pin Oak Investment Advisors Inc. acquired a new position in TE Connectivity during the second quarter worth $34,000. Finally, Fortitude Family Office LLC lifted its stake in TE Connectivity by 43.5% during the third quarter. Fortitude Family Office LLC now owns 211 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TEL shares. UBS Group boosted their price objective on TE Connectivity from $253.00 to $263.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group boosted their price target on shares of TE Connectivity from $284.00 to $288.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Weiss Ratings reissued a “buy (b)” rating on shares of TE Connectivity in a research note on Thursday, October 22nd. Citigroup lifted their price objective on shares of TE Connectivity from $230.00 to $260.00 and gave the company a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company upped their target price on shares of TE Connectivity from $209.00 to $220.00 and gave the stock a “cautious” rating in a research note on Friday, September 11th. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, TE Connectivity currently has a consensus rating of “Moderate Buy” and an average target price of $255.21.

TE Connectivity Price Performance

TEL stock opened at $212.87 on Monday. The business’s 50-day moving average is $211.03 and its two-hundred day moving average is $213.13. The firm has a market capitalization of $61.63 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.35 and a beta of 1.14. 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 current ratio of 1.73 and a quick ratio of 1.18.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results 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 company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the previous year, the business posted $2.44 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. Analysts anticipate that TE Connectivity Ltd. will post 13.32 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders 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 dividend on an annualized basis and a yield of 1.5%. TE Connectivity’s dividend payout ratio (DPR) is currently 28.18%.

About TE Connectivity

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.