Rakuten Investment Management Inc. bought a new stake in TE Connectivity Ltd. (NYSE:TEL – Free Report) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 52,119 shares of the electronics maker’s stock, valued at approximately $11,080,000.
Several other institutional investors also recently bought and sold shares of the stock. JNBA Financial Advisors grew its holdings in shares of TE Connectivity by 67.1% in the second quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 51 shares during the last quarter. Independence Bank of Kentucky bought a new position in TE Connectivity during the 3rd quarter valued at approximately $26,000. Center for Financial Planning Inc. grew its position in shares of TE Connectivity by 113.6% in the 3rd quarter. Center for Financial Planning Inc. now owns 126 shares of the electronics maker’s stock worth $27,000 after buying an additional 67 shares during the last quarter. Bell Investment Advisors Inc increased its stake in shares of TE Connectivity by 56.1% during the third quarter. Bell Investment Advisors Inc now owns 128 shares of the electronics maker’s stock valued at $27,000 after buying an additional 46 shares during the period. Finally, Pin Oak Investment Advisors Inc. bought a new position in TE Connectivity in the 2nd quarter worth $34,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
TEL has been the topic of several recent research reports. Truist Financial reduced their price target on TE Connectivity from $240.00 to $215.00 and set a “hold” rating on the stock in a research note on Thursday, July 23rd. Wall Street Zen raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note on Sunday, October 18th. Citigroup lifted their price objective on TE Connectivity from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Jefferies Financial Group reduced their price target on TE Connectivity from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Finally, Fox Advisors cut shares of TE Connectivity from an “overweight” rating to an “equal weight” rating in a research note on Monday. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.50.
View Our Latest Report on TE Connectivity
TE Connectivity Price Performance
Shares of NYSE:TEL opened at $220.54 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.73 and a quick ratio of 1.18. TE Connectivity Ltd. has a 1-year low of $190.27 and a 1-year high of $252.56. The firm’s 50 day simple moving average is $212.04 and its two-hundred day simple moving average is $212.84. The company has a market capitalization of $63.85 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.39 and a beta of 1.15.
TE Connectivity (NYSE:TEL – Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.07. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the business posted $2.44 EPS. TE Connectivity’s revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts expect that TE Connectivity Ltd. will post 13.33 EPS for the current fiscal year.
TE Connectivity Announces Dividend
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 given a dividend of $0.78 per share. The ex-dividend date is Friday, November 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.4%. TE Connectivity’s dividend payout ratio (DPR) is presently 28.18%.
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.
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