Beutel Goodman & Co Ltd. lifted its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2,545,072.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 636,293 shares of the electronics maker's stock after purchasing an additional 636,268 shares during the period. Beutel Goodman & Co Ltd. owned 0.22% of TE Connectivity worth $134,308,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. State Street Corp increased its position in shares of TE Connectivity by 5.7% during the second quarter. State Street Corp now owns 13,639,381 shares of the electronics maker's stock valued at $2,750,079,000 after buying an additional 730,084 shares during the period. Wellington Management Group LLP raised its stake in TE Connectivity by 48.2% in the second quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker's stock worth $1,554,259,000 after buying an additional 2,507,569 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in TE Connectivity by 3.5% in the second quarter. Baird Financial Group Inc. now owns 3,237,914 shares of the electronics maker's stock worth $652,796,000 after buying an additional 109,020 shares during the period. Dimensional Fund Advisors LP boosted its position 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 valued at $618,121,000 after acquiring an additional 118,284 shares in the last quarter. Finally, Amundi boosted its position in TE Connectivity by 37.2% during the 1st quarter. Amundi now owns 2,256,878 shares of the electronics maker's stock valued at $471,733,000 after acquiring an additional 612,180 shares in the last quarter. Institutional investors own 91.43% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on TEL. Weiss Ratings reiterated a "buy (b)" rating on shares of TE Connectivity in a report on Thursday, October 22nd. UBS Group raised their target price on TE Connectivity from $253.00 to $263.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. Truist Financial lowered their target price on TE Connectivity from $240.00 to $215.00 and set a "hold" rating for the company in a research note on Thursday, July 23rd. Citigroup lifted their price target on TE Connectivity from $230.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, October 29th. Finally, HSBC reduced their price target on TE Connectivity from $234.00 to $216.00 and set a "hold" rating on the stock in a research note on Thursday, July 23rd. Eleven equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $255.50.
Check Out Our Latest Stock Analysis on TE Connectivity
TE Connectivity Stock Performance
Shares of TE Connectivity stock opened at $218.85 on Tuesday. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56. The firm's 50-day moving average is $212.49 and its 200 day moving average is $212.48. The stock has a market cap of $63.36 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.39 and a beta of 1.15. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $0.07. The business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. TE Connectivity had a net margin of 16.36% and a return on equity of 25.55%. TE Connectivity's revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $2.44 EPS. Sell-side analysts anticipate that TE Connectivity Ltd. will post 13.43 EPS for the current fiscal year.
TE Connectivity Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $3.12 annualized dividend and a dividend yield of 1.4%. TE Connectivity's dividend payout ratio (DPR) is 28.18%.
About TE Connectivity
(
Free Report)
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.
See Also
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