ProShare Advisors LLC increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 6.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,511 shares of the electronics maker’s stock after purchasing an additional 5,934 shares during the period. ProShare Advisors LLC’s holdings in TE Connectivity were worth $20,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TEL. Vise Technologies Inc. boosted its position in TE Connectivity by 14.8% in the 3rd quarter. Vise Technologies Inc. now owns 14,542 shares of the electronics maker’s stock worth $3,070,000 after purchasing an additional 1,878 shares in the last quarter. Cidel Asset Management Inc. grew its stake in shares of TE Connectivity by 2.2% during the 3rd quarter. Cidel Asset Management Inc. now owns 102,714 shares of the electronics maker’s stock worth $21,681,000 after purchasing an additional 2,230 shares during the period. Americana Partners LLC purchased a new position in shares of TE Connectivity during the 3rd quarter valued at approximately $304,000. Avestar Capital LLC increased its holdings in shares of TE Connectivity by 3.1% during the 3rd quarter. Avestar Capital LLC now owns 2,756 shares of the electronics maker’s stock valued at $582,000 after purchasing an additional 82 shares in the last quarter. Finally, Modera Wealth Management LLC lifted its stake in shares of TE Connectivity by 4.9% in the 3rd quarter. Modera Wealth Management LLC now owns 1,474 shares of the electronics maker’s stock valued at $311,000 after purchasing an additional 69 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.
TE Connectivity Trading Up 2.0%
Shares of TEL stock opened at $217.37 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.73 and a quick ratio of 1.23. The company has a market cap of $62.93 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.29 and a beta of 1.14. The stock has a 50 day simple moving average of $211.32 and a 200-day simple moving average of $213.03. TE Connectivity Ltd. has a 1-year low of $190.27 and a 1-year high of $252.56.
TE Connectivity (NYSE:TEL – Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.07. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. TE Connectivity had a net margin of 16.36% and a return on equity of 25.55%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 EPS. On average, equities research analysts expect that TE Connectivity Ltd. will post 13.32 EPS for the current fiscal year.
TE Connectivity Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.4%. TE Connectivity’s payout ratio is currently 28.18%.
Wall Street Analyst Weigh In
TEL has been the topic of a number of recent analyst reports. Fox Advisors downgraded shares of TE Connectivity from an “overweight” rating to an “equal weight” rating in a report on Monday. Citigroup lifted their price objective on shares of TE Connectivity from $230.00 to $260.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen upgraded shares of TE Connectivity from a “hold” rating to a “buy” rating in a research report on Sunday, October 18th. Truist Financial lowered their target price on shares of TE Connectivity from $240.00 to $215.00 and set a “hold” rating on the stock in a research note on Thursday, July 23rd. Finally, Sanford C. Bernstein started coverage on TE Connectivity in a research report on Wednesday, September 23rd. They set an “outperform” rating and a $243.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.50.
Get Our Latest Analysis on TEL
About TE Connectivity
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
- Five stocks we like better than TE Connectivity
- AbbVie’s Humira Era Is Fading, But Its New Growth Engines Face Another Test
- GLP-1 Focus or Broader Peptide Exposure: Which ETF Has the Edge?
- Mortgage Rates Froze U.S. Housing, But These 3 Overseas Markets Still Pay Double Digits
- Big Tech Is Spending Billions on AIāThese 5 Stocks Are Getting Paid
Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL – Free Report).
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.
