44,778 Shares in TE Connectivity Ltd. $TEL Acquired by Cornerstone Advisors LLC

Cornerstone Advisors LLC purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 44,778 shares of the electronics maker’s stock, valued at approximately $9,452,000.

A number of other hedge funds have also bought and sold shares of the business. JNBA Financial Advisors boosted 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 worth $26,000 after purchasing an additional 51 shares during the last quarter. Independence Bank of Kentucky bought a new position in TE Connectivity in the 3rd quarter valued at $26,000. Center for Financial Planning Inc. increased its position in shares of TE Connectivity by 113.6% during 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. Bell Investment Advisors Inc increased its position in shares of TE Connectivity by 56.1% during the 3rd 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 during the last quarter. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in shares of TE Connectivity during the 2nd quarter valued at $34,000. 91.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TEL shares. Wall Street Zen cut TE Connectivity from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Citigroup increased their price target on shares of TE Connectivity from $230.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Barclays raised their price objective on shares of TE Connectivity from $300.00 to $304.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. Fox Advisors lowered shares of TE Connectivity from an “overweight” rating to an “equal weight” rating in a research report on Monday, November 2nd. Finally, Sanford C. Bernstein assumed coverage on shares of TE Connectivity in a research note on Wednesday, September 23rd. They issued an “outperform” rating and a $243.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and an average target price of $255.50.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $216.22 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $213.45 and a two-hundred day simple moving average of $212.28. TE Connectivity Ltd. has a 1-year low of $190.27 and a 1-year high of $252.56. The firm has a market cap of $61.99 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.36 and a beta of 1.15.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share (EPS) 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 firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. Analysts anticipate that TE Connectivity Ltd. will post 13.52 earnings per share for the current year.

TE Connectivity Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, November 20th. This represents a $3.12 annualized dividend and a yield of 1.4%. TE Connectivity’s dividend payout ratio (DPR) is 28.18%.

TE Connectivity Profile

TE Connectivity (NYSE: TEL) designs and manufactures connectivity and sensor solutions used to transmit data, power and signals. Its products include connectors, terminals, relays, antennas and sensors, as well as related components and systems. The company serves customers in industries including automotive, industrial equipment, communications, aerospace and defense, medical technology, and energy. Its products are used in applications ranging from vehicles and factory automation to telecommunications infrastructure and aircraft.