TE Connectivity Ltd. $TEL Shares Sold by 180 Wealth Advisors LLC

Key Points

• 180 Wealth Advisors cut its TE Connectivity stake by 76.2% in the third quarter, selling 4,883 shares and retaining 1,522 shares valued at about $321,000.
• Analyst sentiment remains broadly positive: the stock has a “Moderate Buy” consensus and an average price target of $255.50, while recent ratings included both upgrades and downgrades.
• TE Connectivity beat quarterly estimates, reporting $3.14 in EPS and $5.31 billion in revenue; revenue rose 11.9% year over year. The company also announced a $0.78 quarterly dividend.

180 Wealth Advisors LLC reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 76.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,522 shares of the electronics maker's stock after selling 4,883 shares during the quarter. 180 Wealth Advisors LLC's holdings in TE Connectivity were worth $321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its holdings in shares of TE Connectivity by 324.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 62,370 shares of the electronics maker's stock worth $12,574,000 after acquiring an additional 47,691 shares during the last quarter. State Street Corp boosted its stake in TE Connectivity by 5.7% during 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. QRG Capital Management Inc. boosted its stake in TE Connectivity by 8.1% during the 2nd quarter. QRG Capital Management Inc. now owns 154,278 shares of the electronics maker's stock valued at $31,104,000 after purchasing an additional 11,519 shares during the last quarter. First Financial Bank Trust Division increased its holdings in TE Connectivity by 37.0% during the 3rd quarter. First Financial Bank Trust Division now owns 27,375 shares of the electronics maker's stock worth $5,778,000 after purchasing an additional 7,386 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in TE Connectivity by 3.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,504,559 shares of the electronics maker's stock worth $303,332,000 after purchasing an additional 48,212 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 recently weighed in on TEL. Barclays raised their target price on TE Connectivity from $300.00 to $304.00 and gave the company an "overweight" rating in a report on Monday, November 2nd. Jefferies Financial Group decreased their price target on TE Connectivity from $265.00 to $235.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. JPMorgan Chase & Co. lowered their price target on TE Connectivity from $260.00 to $235.00 and set a "neutral" rating for the company in a research report on Thursday, July 16th. Fox Advisors cut TE Connectivity from an "overweight" rating to an "equal weight" rating in a research note on Monday, November 2nd. Finally, The Goldman Sachs Group lifted their price objective on shares of TE Connectivity from $284.00 to $288.00 and gave the stock a "buy" rating in a report on Tuesday, October 6th. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $255.50.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $218.85 on Tuesday. The company's 50-day moving average is $212.49 and its 200 day moving average is $212.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.73. The company has a market capitalization of $63.36 billion, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 1.39 and a beta of 1.15. TE Connectivity Ltd. has a fifty-two week low of $190.27 and a fifty-two week high of $252.56.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 EPS for the quarter, topping the consensus estimate of $3.07 by $0.07. TE Connectivity had a net margin of 16.36% and a return on equity of 25.55%. The business had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the previous year, the firm posted $2.44 earnings per share. The company's revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts forecast 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 paid a $0.78 dividend. The ex-dividend date is Friday, November 20th. This represents a $3.12 annualized dividend and a dividend yield of 1.4%. TE Connectivity's payout ratio is presently 28.18%.

About TE Connectivity

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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