Perigon Wealth Management LLC Invests $255,000 in TE Connectivity Ltd. $TEL

Key Points

• Perigon Wealth Management LLC invested approximately $255,000 in TE Connectivity Ltd. by acquiring 1,513 shares, as reported in their most recent 13F filing with the SEC.
• Analysts have set a consensus price target of $211.36 for TE Connectivity, with Goldman Sachs and Bank of America both issuing new targets that reflect positive outlooks.
• The company announced a quarterly dividend of $0.71 per share, with an ex-dividend date on November 21, 2023, translating to an annual yield of 1.3%.

Perigon Wealth Management LLC acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,513 shares of the electronics maker's stock, valued at approximately $255,000.

Several other hedge funds also recently bought and sold shares of the business. Costello Asset Management INC purchased a new stake in shares of TE Connectivity during the first quarter valued at $28,000. Millstone Evans Group LLC purchased a new stake in TE Connectivity in the 1st quarter valued at about $32,000. Kelly Lawrence W & Associates Inc. CA bought a new position in TE Connectivity in the 1st quarter worth about $34,000. Ransom Advisory Ltd purchased a new position in shares of TE Connectivity during the first quarter worth approximately $34,000. Finally, Dagco Inc. bought a new stake in shares of TE Connectivity during the first quarter valued at approximately $35,000. Institutional investors own 91.43% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TEL. Wall Street Zen lowered TE Connectivity from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 31st. The Goldman Sachs Group lifted their price objective on TE Connectivity from $228.00 to $263.00 and gave the company a "buy" rating in a report on Monday. Bank of America increased their target price on shares of TE Connectivity from $168.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. KGI Securities raised shares of TE Connectivity to a "hold" rating in a research report on Thursday, July 24th. Finally, Evercore ISI upped their price target on shares of TE Connectivity from $200.00 to $225.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.36.

TE Connectivity Price Performance

NYSE TEL opened at $219.56 on Wednesday. The firm's fifty day simple moving average is $207.93 and its two-hundred day simple moving average is $173.18. The firm has a market capitalization of $64.88 billion, a P/E ratio of 45.46, a P/E/G ratio of 2.59 and a beta of 1.23. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. TE Connectivity Ltd. has a 12-month low of $116.30 and a 12-month high of $221.00.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.19. TE Connectivity had a return on equity of 20.22% and a net margin of 8.78%.The firm had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter last year, the firm earned $1.91 EPS. The business's quarterly revenue was up 13.9% on a year-over-year basis. TE Connectivity has set its Q4 2025 guidance at 2.270-2.270 EPS. Analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.3%. TE Connectivity's payout ratio is 58.80%.

Insider Transactions at TE Connectivity

In other TE Connectivity news, EVP John S. Jenkins sold 45,850 shares of TE Connectivity stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $209.33, for a total transaction of $9,597,780.50. Following the completion of the sale, the executive vice president owned 24,625 shares of the company's stock, valued at approximately $5,154,751.25. The trade was a 65.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Malavika Sagar sold 1,945 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $207.20, for a total value of $403,004.00. Following the completion of the transaction, the senior vice president directly owned 4,716 shares in the company, valued at $977,155.20. This represents a 29.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,545 shares of company stock worth $25,040,158. Insiders own 0.90% of the company's stock.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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