TE Connectivity Ltd. $TEL Stock Purchased by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC grew its holdings in TE Connectivity Ltd. (NYSE:TEL) by 220.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,067 shares of the electronics maker’s stock after acquiring an additional 22,056 shares during the quarter. TE Connectivity accounts for about 1.0% of Beverly Hills Private Wealth LLC’s investment portfolio, making the stock its 20th largest holding. Beverly Hills Private Wealth LLC’s holdings in TE Connectivity were worth $6,769,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TEL. State Street Corp lifted its holdings in shares of TE Connectivity by 5.7% during the 2nd quarter. State Street Corp now owns 13,639,381 shares of the electronics maker’s stock valued at $2,750,079,000 after purchasing an additional 730,084 shares in the last quarter. Wellington Management Group LLP grew its position in shares of TE Connectivity by 48.2% in the 2nd quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker’s stock valued at $1,554,259,000 after purchasing an additional 2,507,569 shares during the period. Baird Financial Group Inc. grew its position in shares of TE Connectivity by 3.5% in the 2nd quarter. Baird Financial Group Inc. now owns 3,237,914 shares of the electronics maker’s stock valued at $652,796,000 after purchasing an additional 109,020 shares during the period. Dimensional Fund Advisors LP increased its stake in TE Connectivity by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,958,535 shares of the electronics maker’s stock worth $618,121,000 after purchasing an additional 118,284 shares in the last quarter. Finally, Amundi increased its stake in TE Connectivity by 37.2% during the 1st quarter. Amundi now owns 2,256,878 shares of the electronics maker’s stock worth $471,733,000 after purchasing an additional 612,180 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $207.59 on Monday. The firm has a market cap of $60.10 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 1.30 and a beta of 1.15. The stock’s 50-day moving average is $212.17 and its 200-day moving average is $212.54. TE Connectivity Ltd. has a one year low of $190.27 and a one year high of $252.56. 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 (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.07. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.29 billion. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. TE Connectivity’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 earnings per share. Equities analysts predict that TE Connectivity Ltd. will post 13.43 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be paid a $0.78 dividend. The ex-dividend date is Friday, November 20th. This represents a $3.12 annualized dividend and a yield of 1.5%. TE Connectivity’s payout ratio is presently 28.18%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of TE Connectivity from $209.00 to $220.00 and gave the stock a “cautious” rating in a report on Friday, September 11th. Jefferies Financial Group reduced their price target on shares of TE Connectivity from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Wall Street Zen cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Saturday. Truist Financial lowered their price objective on shares of TE Connectivity from $240.00 to $215.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Finally, HSBC dropped their price objective on shares of TE Connectivity from $234.00 to $216.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $255.50.

About TE Connectivity

TE Connectivity (NYSE: TEL) designs and manufactures connectivity and sensor solutions used to transmit data, power and signals. Its products include connectors, terminals, relays, antennas and sensors, as well as related components and systems.

The company serves customers in industries including automotive, industrial equipment, communications, aerospace and defense, medical technology, and energy. Its products are used in applications ranging from vehicles and factory automation to telecommunications infrastructure and aircraft.

TE Connectivity operates internationally and traces its history to Tyco Electronics, which became an independent company following its separation from Tyco International in 2007.