BG Investment Services LLC Acquires 6,855 Shares of TE Connectivity Ltd. $TEL

Key Points

• BG Investment Services acquired 6,855 TE Connectivity shares worth approximately $1.45 million in the third quarter. Institutional investors and hedge funds collectively own 91.43% of the company.
• Analysts maintain a generally positive outlook, with 11 Buy, four Hold and one Sell rating; the stock carries a “Moderate Buy” consensus and an average price target of $258.07.
• TE Connectivity’s latest quarterly results exceeded expectations, with adjusted earnings of $2.94 per share and revenue of $5.16 billion, while the company declared a quarterly dividend of $0.78 per share.

BG Investment Services LLC purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,855 shares of the electronics maker's stock, valued at approximately $1,447,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI boosted its position in shares of TE Connectivity by 149.9% in the third quarter. Citizens Financial Group Inc. RI now owns 12,309 shares of the electronics maker's stock worth $2,598,000 after buying an additional 7,384 shares during the period. Anderson Hoagland & Co. acquired a new stake in shares of TE Connectivity in the third quarter valued at about $3,156,000. Simplicity Wealth LLC purchased a new stake in shares of TE Connectivity during the 3rd quarter valued at about $213,000. Brookmont Capital Management lifted its position in TE Connectivity by 0.5% during the 3rd quarter. Brookmont Capital Management now owns 13,749 shares of the electronics maker's stock worth $2,902,000 after acquiring an additional 74 shares in the last quarter. Finally, Sowell Financial Services LLC lifted its position in TE Connectivity by 14.1% during the 3rd quarter. Sowell Financial Services LLC now owns 1,434 shares of the electronics maker's stock worth $303,000 after acquiring an additional 177 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on TEL shares. HSBC lowered their price objective 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. Sanford C. Bernstein started coverage on shares of TE Connectivity in a research note on Wednesday, September 23rd. They set an "outperform" rating and a $243.00 price objective on the stock. Jefferies Financial Group reduced their target price on shares of TE Connectivity from $265.00 to $235.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Weiss Ratings restated a "buy (b)" rating on shares of TE Connectivity in a research note on Thursday. Finally, Truist Financial lowered their price target on shares of TE Connectivity from $240.00 to $215.00 and set a "hold" rating for the company in a report on Thursday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $258.07.

TE Connectivity Stock Down 0.3%

TEL stock opened at $207.84 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $209.83 and a 200-day simple moving average of $210.46. The company has a market capitalization of $60.17 billion, a P/E ratio of 20.38, a PEG ratio of 1.22 and a beta of 1.14. TE Connectivity Ltd. has a twelve month low of $190.27 and a twelve month high of $252.56.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.09. The company had revenue of $5.16 billion during the quarter, compared to analyst estimates of $5.01 billion. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the business earned $2.27 EPS. On average, equities research analysts predict that TE Connectivity Ltd. will post 11.46 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, November 20th. TE Connectivity's dividend payout ratio is 30.59%.

About TE Connectivity

TE Connectivity Ltd. NYSE: TEL is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products help transmit power, data and signals across a range of applications, including vehicles, industrial equipment, communications networks, aerospace systems, medical devices and consumer electronics.

The company's product portfolio includes connectors, terminals, relays, sensors, antennas, circuit-protection products, wire and cable assemblies, and related application tooling.

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