IHT Wealth Management LLC bought a new stake in shares of TE Connectivity Ltd (NYSE:TEL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,773 shares of the electronics maker’s stock, valued at approximately $258,000.
Several other hedge funds have also made changes to their positions in TEL. Usca Ria LLC bought a new stake in TE Connectivity in the third quarter worth $27,000. Fusion Family Wealth LLC raised its position in shares of TE Connectivity by 166.4% in the 3rd quarter. Fusion Family Wealth LLC now owns 293 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 183 shares during the last quarter. Bourgeon Capital Management LLC purchased a new position in shares of TE Connectivity in the 3rd quarter worth about $39,000. Meeder Asset Management Inc. bought a new position in TE Connectivity in the 2nd quarter worth about $41,000. Finally, Synovus Financial Corp boosted its stake in TE Connectivity by 36.1% in the 3rd quarter. Synovus Financial Corp now owns 483 shares of the electronics maker’s stock worth $45,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 90.50% of the company’s stock.
Several research analysts have issued reports on TEL shares. ValuEngine cut shares of TE Connectivity from a “hold” rating to a “sell” rating in a report on Tuesday. JPMorgan Chase & Co. assumed coverage on shares of TE Connectivity in a report on Tuesday, October 22nd. They set a “neutral” rating and a $102.00 price target on the stock. Wolfe Research started coverage on shares of TE Connectivity in a report on Tuesday, October 8th. They set a “market perform” rating and a $91.00 price target on the stock. Morgan Stanley downgraded shares of TE Connectivity from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $98.00 to $95.00 in a research report on Monday, September 23rd. Finally, Citigroup lowered shares of TE Connectivity from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $105.00 to $95.00 in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. TE Connectivity presently has a consensus rating of “Hold” and an average price target of $93.07.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. TE Connectivity had a net margin of 13.71% and a return on equity of 18.20%. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm posted $1.35 EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, research analysts predict that TE Connectivity Ltd will post 5.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, November 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 33.15%.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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