Hsbc Holdings PLC raised its stake in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 19.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,335,167 shares of the electronics maker’s stock after purchasing an additional 219,475 shares during the quarter. Hsbc Holdings PLC’s holdings in TE Connectivity were worth $269,075,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the stock. Pin Oak Investment Advisors Inc. purchased a new stake in shares of TE Connectivity in the 2nd quarter valued at approximately $34,000. Commonwealth Retirement Investments LLC purchased a new position in shares of TE Connectivity during the 4th quarter worth approximately $40,000. MV Capital Management Inc. acquired a new stake in TE Connectivity in the 4th quarter valued at approximately $41,000. Geneos Wealth Management Inc. raised its position in TE Connectivity by 189.6% in the second quarter. Geneos Wealth Management Inc. now owns 194 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 127 shares during the period. Finally, Bayban purchased a new stake in TE Connectivity in the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.
TE Connectivity Trading Up 0.0%
NYSE TEL opened at $208.67 on Monday. TE Connectivity Ltd. has a 52 week low of $190.27 and a 52 week high of $252.56. The firm has a 50 day moving average of $205.62 and a two-hundred day moving average of $210.65. The company has a quick ratio of 1.23, a current ratio of 1.88 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $60.41 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.40 and a beta of 1.16.
TE Connectivity Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a $0.78 dividend. The ex-dividend date is Friday, August 21st. 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 30.59%.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on TEL shares. Zacks Research lowered TE Connectivity from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. UBS Group reiterated a “buy” rating and issued a $241.00 price objective on shares of TE Connectivity in a report on Thursday, July 23rd. Wall Street Zen raised TE Connectivity from a “hold” rating to a “buy” rating in a research note on Sunday, August 23rd. Evercore restated an “in-line” rating and set a $230.00 target price on shares of TE Connectivity in a report on Monday, June 22nd. Finally, Barclays lifted their target price on TE Connectivity from $297.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $251.15.
Get Our Latest Report on TE Connectivity
About TE Connectivity
TE Connectivity (NYSE: TEL) is a global industrial technology company that designs and manufactures connectivity and sensor solutions used to enable the flow of power and data in a wide range of applications. Its product portfolio includes electrical connectors, cable and wire harness assemblies, sensors, relays and switches, fiber-optic and coaxial interconnects, and other passive and active components that provide mechanical and electrical connections in complex systems.
The company’s products and engineered solutions serve diverse end markets such as automotive and transportation, industrial equipment, data communications and networks, aerospace and defense, medical devices, and energy.
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