Bell Asset Management Ltd Sells 6,541 Shares of TE Connectivity Ltd. $TEL

Key Points

• Bell Asset Management reduced its TE Connectivity stake by 32.8% in the third quarter, selling 6,541 shares and retaining 13,384 shares valued at approximately $2.83 million.
• TE Connectivity reported quarterly EPS of $2.94, exceeding estimates of $2.85, while revenue rose 13.8% year over year to $5.16 billion. The company issued quarterly guidance of $3.05 EPS.
• The company declared a quarterly dividend of $0.78 per share, equivalent to a 1.5% yield, while analysts maintained a “Moderate Buy” consensus rating with an average price target of $252.36.

Bell Asset Management Ltd lessened its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 32.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 13,384 shares of the electronics maker's stock after selling 6,541 shares during the period. TE Connectivity comprises approximately 1.0% of Bell Asset Management Ltd's portfolio, making the stock its 25th largest position. Bell Asset Management Ltd's holdings in TE Connectivity were worth $2,825,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JNBA Financial Advisors raised its holdings in shares of TE Connectivity by 67.1% in the 2nd quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker's stock valued at $26,000 after buying an additional 51 shares during the period. Pin Oak Investment Advisors Inc. purchased a new position in shares of TE Connectivity in the second quarter valued at approximately $34,000. MV Capital Management Inc. purchased a new stake in TE Connectivity during the 4th quarter worth approximately $41,000. Bayban acquired a new stake in TE Connectivity during the 4th quarter worth approximately $44,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in TE Connectivity in the 2nd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Performance

Shares of TEL stock opened at $214.18 on Friday. The stock's 50-day moving average is $210.11 and its two-hundred day moving average is $209.94. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.88. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56. The firm has a market cap of $62.01 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.27 and a beta of 1.14.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its 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. The firm had revenue of $5.16 billion during the quarter, compared to analysts' expectations of $5.01 billion. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%.The business's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.27 EPS. TE Connectivity has set its Q4 2026 guidance at 3.050-3.050 EPS. Analysts predict that TE Connectivity Ltd. will post 11.48 earnings per share for the current year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. TE Connectivity's dividend payout ratio (DPR) is presently 30.59%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on TE Connectivity from $284.00 to $288.00 and gave the stock a "buy" rating in a research report on Tuesday. UBS Group increased their price objective on shares of TE Connectivity from $241.00 to $253.00 and gave the company a "buy" rating in a research report on Wednesday. Robert W. Baird reduced their price objective on shares of TE Connectivity from $240.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Citigroup lowered their target price on shares of TE Connectivity from $250.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Finally, Evercore reissued an "in-line" rating and issued a $230.00 target price on shares of TE Connectivity in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $252.36.

TE Connectivity Profile

TE Connectivity Ltd. NYSE: TEL is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products include connectors, terminals, relays, sensors, switches, circuit-protection devices, antennas and related components used to transmit power, data and signals reliably in demanding environments.

The company serves customers across the automotive, commercial transportation, industrial, aerospace and defense, medical, energy, data communications and consumer-device markets.

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