TE Connectivity Ltd. $TEL Shares Sold by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management cut its TE Connectivity stake by 74.9% in the third quarter, selling 11,951 shares and retaining 4,002 shares valued at approximately $845,000. Institutional investors collectively own 91.43% of the company.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a consensus price target of $258.07, despite mixed individual target revisions.
• TE Connectivity reported quarterly EPS of $2.94 and revenue of $5.16 billion, beating estimates and posting 13.8% year-over-year revenue growth. The company also announced a quarterly dividend of $0.78 per share, representing a 1.5% yield.

Axxcess Wealth Management LLC cut its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 74.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,002 shares of the electronics maker's stock after selling 11,951 shares during the quarter. Axxcess Wealth Management LLC's holdings in TE Connectivity were worth $845,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. JNBA Financial Advisors boosted its holdings in shares of TE Connectivity by 67.1% during the 2nd quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker's stock worth $26,000 after buying an additional 51 shares during the period. Pin Oak Investment Advisors Inc. bought a new position in TE Connectivity in the 2nd quarter valued at about $34,000. Fortitude Family Office LLC lifted its position in TE Connectivity by 43.5% during the third quarter. Fortitude Family Office LLC now owns 211 shares of the electronics maker's stock worth $45,000 after acquiring an additional 64 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new stake in TE Connectivity during the second quarter worth approximately $48,000. Finally, Brown Lisle Cummings Inc. lifted its position in TE Connectivity by 24.0% during the third quarter. Brown Lisle Cummings Inc. now owns 279 shares of the electronics maker's stock worth $59,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. HSBC decreased their target price on TE Connectivity from $234.00 to $216.00 and set a "hold" rating on the stock in a research report on Thursday, July 23rd. The Goldman Sachs Group increased their target price on TE Connectivity from $284.00 to $288.00 and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Wells Fargo & Company lifted their price target on TE Connectivity from $209.00 to $220.00 and gave the stock a "cautious" rating in a report on Friday, September 11th. Wall Street Zen upgraded TE Connectivity from a "hold" rating to a "buy" rating in a research note on Sunday, October 18th. Finally, Jefferies Financial Group reduced their price target on TE Connectivity from $265.00 to $235.00 and set a "buy" rating for the company in a research note 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $258.07.

TE Connectivity Stock Down 0.3%

Shares of TEL 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. TE Connectivity Ltd. has a 12 month low of $190.27 and a 12 month high of $252.56. The firm's 50 day moving average is $209.83 and its 200-day moving average is $210.46. The stock has a market capitalization of $60.17 billion, a PE ratio of 20.38, a P/E/G ratio of 1.22 and a beta of 1.14.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.09. The business had revenue of $5.16 billion during the quarter, compared to analysts' expectations of $5.01 billion. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.27 earnings per share. Equities research analysts forecast that TE Connectivity Ltd. will post 11.46 EPS for the current year.

TE Connectivity Dividend Announcement

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

TE Connectivity Company Profile

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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