PUREfi Wealth LLC Takes Position in TE Connectivity Ltd. $TEL

Key Points

• PUREfi Wealth LLC acquired a new stake in TE Connectivity Ltd, purchasing 1,585 shares valued at approximately $267,000 in Q2 2023.
• TE Connectivity recently reported better-than-expected earnings of $2.27 per share for the quarter, surpassing analysts' estimates by $0.19, along with a revenue of $4.53 billion.
• The company announced a quarterly dividend of $0.71 per share, payable on December 12, with a dividend yield of 1.3% and a payout ratio of 58.80%.

PUREfi Wealth LLC purchased 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 filing with the SEC. The fund purchased 1,585 shares of the electronics maker's stock, valued at approximately $267,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Valeo Financial Advisors LLC boosted its stake in TE Connectivity by 39,846.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,775,598 shares of the electronics maker's stock valued at $299,490,000 after purchasing an additional 1,771,153 shares during the last quarter. Keudell Morrison Wealth Management acquired a new position in TE Connectivity during the 2nd quarter valued at about $204,000. OLD National Bancorp IN boosted its stake in TE Connectivity by 48.8% during the 2nd quarter. OLD National Bancorp IN now owns 3,512 shares of the electronics maker's stock valued at $592,000 after purchasing an additional 1,152 shares during the last quarter. Berger Financial Group Inc boosted its stake in TE Connectivity by 1.0% during the 2nd quarter. Berger Financial Group Inc now owns 37,849 shares of the electronics maker's stock valued at $6,384,000 after purchasing an additional 378 shares during the last quarter. Finally, Boston Common Asset Management LLC acquired a new position in TE Connectivity during the 2nd quarter valued at about $5,023,000. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Trading Down 0.1%

NYSE:TEL opened at $221.00 on Monday. The company has a current ratio of 1.52, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $65.30 billion, a PE ratio of 45.75, a price-to-earnings-growth ratio of 2.39 and a beta of 1.26. The firm's 50 day moving average is $208.91 and its 200 day moving average is $174.92. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $224.97.

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

TE Connectivity Announces Dividend

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 paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 21st. TE Connectivity's dividend payout ratio (DPR) is 58.80%.

Insider Buying and Selling

In related news, SVP Malavika Sagar sold 1,945 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $207.20, for a total value of $403,004.00. Following the sale, the senior vice president directly owned 4,716 shares of the company's stock, valued at $977,155.20. This trade represents a 29.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shadrak W. Kroeger sold 23,850 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $202.99, for a total value of $4,841,311.50. Following the completion of the sale, the insider directly owned 25,976 shares in the company, valued at $5,272,868.24. The trade was a 47.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,545 shares of company stock valued at $25,040,158 over the last three months. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TEL. The Goldman Sachs Group lifted their price target on TE Connectivity from $228.00 to $263.00 and gave the company a "buy" rating in a research note on Monday, September 29th. Weiss Ratings reissued a "hold (c+)" rating on shares of TE Connectivity in a research report on Saturday, September 27th. UBS Group lifted their target price on shares of TE Connectivity from $185.00 to $201.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Zacks Research cut shares of TE Connectivity from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 24th. Finally, Robert W. Baird set a $232.00 target price on shares of TE Connectivity in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $211.36.

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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