Robeco Schweiz AG reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 3.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 84,305 shares of the electronics maker’s stock after selling 3,125 shares during the quarter. Robeco Schweiz AG’s holdings in TE Connectivity were worth $17,795,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. State Street Corp grew its holdings in shares of TE Connectivity by 5.7% during the second quarter. State Street Corp now owns 13,639,381 shares of the electronics maker’s stock worth $2,750,079,000 after buying an additional 730,084 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of TE Connectivity by 48.2% during the second quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker’s stock valued at $1,554,259,000 after buying an additional 2,507,569 shares during the period. Baird Financial Group Inc. boosted its position in TE Connectivity by 3.5% during the second quarter. Baird Financial Group Inc. now owns 3,237,914 shares of the electronics maker’s stock worth $652,796,000 after acquiring an additional 109,020 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in TE Connectivity by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,958,535 shares of the electronics maker’s stock worth $618,121,000 after acquiring an additional 118,284 shares during the last quarter. Finally, Amundi boosted its position in TE Connectivity by 37.2% during the first quarter. Amundi now owns 2,256,878 shares of the electronics maker’s stock worth $471,733,000 after acquiring an additional 612,180 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have commented on TEL shares. Robert W. Baird lifted their target price on shares of TE Connectivity from $225.00 to $250.00 and gave the stock an “outperform” 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. Sanford C. Bernstein initiated coverage on TE Connectivity in a research note on Wednesday, September 23rd. They set an “outperform” rating and a $243.00 price target on the stock. Wall Street Zen upgraded TE Connectivity from a “hold” rating to a “buy” rating in a report on Sunday, October 18th. Finally, 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. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $258.07.
Get Our Latest Analysis on TEL
TE Connectivity Trading Down 0.3%
Shares of TEL opened at $207.84 on Friday. 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 firm has a market capitalization of $60.17 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.22 and a beta of 1.14. The stock’s fifty day simple moving average is $209.83 and its 200 day simple moving average is $210.46. TE Connectivity Ltd. has a twelve month low of $190.27 and a twelve month high of $252.56.
TE Connectivity (NYSE:TEL – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.09. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%. The firm had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the business earned $2.27 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts forecast that TE Connectivity Ltd. will post 11.46 earnings per share for the current year.
TE Connectivity Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, November 20th. TE Connectivity’s dividend payout ratio (DPR) is 30.59%.
TE Connectivity Company 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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