Howland Capital Management LLC lessened its holdings in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,256 shares of the electronics maker’s stock after selling 2,592 shares during the quarter. TE Connectivity accounts for 1.3% of Howland Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. Howland Capital Management LLC’s holdings in TE Connectivity were worth $35,515,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in TEL. JNBA Financial Advisors boosted its position in TE Connectivity by 67.1% during the second quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock valued at $26,000 after buying an additional 51 shares during the period. Pin Oak Investment Advisors Inc. bought a new position in shares of TE Connectivity during the second quarter valued at about $34,000. Fortitude Family Office LLC increased its holdings in shares of TE Connectivity by 43.5% in the third quarter. Fortitude Family Office LLC now owns 211 shares of the electronics maker’s stock worth $45,000 after buying an additional 64 shares during the period. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of TE Connectivity in the second quarter worth about $48,000. Finally, Brown Lisle Cummings Inc. lifted its stake in shares of TE Connectivity by 106.1% in the 1st quarter. Brown Lisle Cummings Inc. now owns 272 shares of the electronics maker’s stock valued at $57,000 after acquiring an additional 140 shares during the last quarter. 91.43% of the stock is owned by institutional investors.
Analyst Ratings Changes
TEL has been the subject of several analyst reports. Jefferies Financial Group dropped their target price on TE Connectivity from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Wells Fargo & Company lifted 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. 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 note on Tuesday, October 6th. Citigroup lowered their price objective on TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. dropped their price objective on TE Connectivity from $260.00 to $235.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $258.07.
Read Our Latest Stock Analysis on TEL
TE Connectivity Stock Performance
Shares of TEL stock opened at $208.24 on Friday. TE Connectivity Ltd. has a 12 month low of $190.27 and a 12 month high of $252.56. The stock has a market cap of $60.29 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The company’s fifty day moving average price is $210.00 and its 200-day moving average price is $210.48.
TE Connectivity (NYSE:TEL – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.09. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The company had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same period last year, the business earned $2.27 EPS. TE Connectivity’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities analysts expect that TE Connectivity Ltd. will post 11.46 EPS for the current fiscal year.
TE Connectivity Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity’s payout ratio is presently 30.59%.
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.
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