TE Connectivity Ltd. $TEL Holdings Raised by RWC Asset Management LLP

RWC Asset Management LLP boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,057 shares of the electronics maker’s stock after acquiring an additional 4,581 shares during the period. TE Connectivity accounts for about 1.0% of RWC Asset Management LLP’s portfolio, making the stock its 27th biggest position. RWC Asset Management LLP’s holdings in TE Connectivity were worth $25,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JNBA Financial Advisors grew its holdings in shares of TE Connectivity by 67.1% during the 2nd quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 51 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of TE Connectivity in the second quarter worth $34,000. Fortitude Family Office LLC increased its position 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 purchasing an additional 64 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new position in TE Connectivity in the second quarter valued at about $48,000. Finally, Brown Lisle Cummings Inc. raised its stake in TE Connectivity by 106.1% in the first quarter. Brown Lisle Cummings Inc. now owns 272 shares of the electronics maker’s stock valued at $57,000 after purchasing an additional 140 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Price Performance

Shares of TEL traded down $0.58 during mid-day trading on Friday, reaching $207.84. The company had a trading volume of 1,611,681 shares, compared to its average volume of 1,797,803. The company’s 50 day simple moving average is $209.83 and its 200 day simple moving average is $210.46. 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 0.42, a quick ratio of 1.23 and a current ratio of 1.88. The company has a market capitalization of $60.17 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 1.23 and a beta of 1.14.

TE Connectivity (NYSE:TEL – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.09. The company had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.01 billion. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.27 EPS. Analysts expect that TE Connectivity Ltd. will post 11.46 EPS for the current year.

TE Connectivity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, November 20th. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. TE Connectivity’s dividend payout ratio is 30.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TEL shares. JPMorgan Chase & Co. reduced their price objective on shares of TE Connectivity from $260.00 to $235.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. HSBC dropped their target price on shares of TE Connectivity from $234.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. UBS Group upped their price target on shares of TE Connectivity from $241.00 to $253.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. Citigroup reduced their price target on shares of TE Connectivity from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Finally, Wall Street Zen raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note on Sunday, October 18th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.07.

View Our Latest Stock Analysis on TEL

About TE Connectivity

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

Receive News & Ratings for TE Connectivity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TE Connectivity and related companies with MarketBeat.com's FREE daily email newsletter.