Beverly Hills Private Wealth LLC Purchases 22,056 Shares of TE Connectivity Ltd. $TEL

Key Points

• Beverly Hills Private Wealth LLC increased its TE Connectivity stake by 220.3% in the third quarter, buying 22,056 shares to hold 32,067 shares worth about $6.77 million.
• Institutional investors and hedge funds own 91.43% of TE Connectivity shares. Analysts’ consensus rating is “Moderate Buy,” with a $255.50 average price target.
• TE Connectivity beat quarterly earnings and revenue estimates, reporting $3.14 earnings per share and $5.31 billion in revenue; revenue grew 11.9% year over year. The company also announced a $0.78 quarterly dividend.

Beverly Hills Private Wealth LLC boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 220.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,067 shares of the electronics maker's stock after purchasing an additional 22,056 shares during the quarter. TE Connectivity comprises 1.0% of Beverly Hills Private Wealth LLC's holdings, making the stock its 20th biggest position. 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 large investors also recently added to or reduced their stakes in TEL. State Street Corp boosted its stake in shares of TE Connectivity by 5.7% in 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 during the last quarter. Wellington Management Group LLP raised its stake in shares of TE Connectivity by 48.2% during 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 during the last quarter. Baird Financial Group Inc. raised its stake in shares of TE Connectivity by 3.5% during 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 last quarter. Dimensional Fund Advisors LP lifted its holdings in TE Connectivity by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,958,535 shares of the electronics maker's stock valued at $618,121,000 after buying an additional 118,284 shares during the period. Finally, Amundi lifted its holdings in TE Connectivity by 37.2% in the first quarter. Amundi now owns 2,256,878 shares of the electronics maker's stock valued at $471,733,000 after buying an additional 612,180 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on TEL shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of TE Connectivity in a report on Thursday, October 22nd. HSBC dropped their target price on shares of TE Connectivity from $234.00 to $216.00 and set a "hold" rating for the company in a research report on Thursday, July 23rd. Barclays increased their price target on TE Connectivity from $300.00 to $304.00 and gave the company an "overweight" rating in a research note on Monday, November 2nd. Fox Advisors lowered TE Connectivity from an "overweight" rating to an "equal weight" rating in a research report on Monday, November 2nd. Finally, Wells Fargo & Company lifted their price objective on TE Connectivity from $209.00 to $220.00 and gave the stock a "cautious" rating in a research note on Friday, September 11th. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of "Moderate Buy" and a consensus target price of $255.50.

TE Connectivity Stock Performance

Shares of TEL stock opened at $207.59 on Monday. The stock has a market cap of $60.10 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.30 and a beta of 1.15. The stock has a 50-day moving average of $212.17 and a 200-day moving average of $212.54. 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 one year low of $190.27 and a one year high of $252.56.

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, topping the consensus estimate of $3.07 by $0.07. The business had revenue of $5.31 billion for 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 quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.44 EPS. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 13.43 earnings per share for the current 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 issued 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 dividend payout ratio (DPR) is 28.18%.

TE Connectivity Company Profile

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.

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