TE Connectivity Ltd. $TEL Shares Sold by Bahl & Gaynor LLC

Key Points

• Bahl & Gaynor cut its TE Connectivity stake by 21.5% in the third quarter, selling 188,809 shares; it retained 690,276 shares valued at about $145.7 million.
• TE Connectivity beat quarterly estimates, reporting $3.14 in EPS and $5.31 billion in revenue; revenue rose 11.9% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with a $255.50 average price target. The company also announced a $0.78 quarterly dividend per share.

Bahl & Gaynor LLC decreased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 21.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 690,276 shares of the electronics maker's stock after selling 188,809 shares during the period. Bahl & Gaynor LLC owned 0.24% of TE Connectivity worth $145,704,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new position in shares of TE Connectivity in the 3rd quarter valued at about $26,000. Center for Financial Planning Inc. raised its stake in shares of TE Connectivity by 113.6% during the third quarter. Center for Financial Planning Inc. now owns 126 shares of the electronics maker's stock worth $27,000 after buying an additional 67 shares during the last quarter. JNBA Financial Advisors raised its stake in shares of TE Connectivity by 67.1% during the second 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 last quarter. Bell Investment Advisors Inc lifted its holdings in TE Connectivity by 56.1% in the third quarter. Bell Investment Advisors Inc now owns 128 shares of the electronics maker's stock valued at $27,000 after buying an additional 46 shares during the period. Finally, Pin Oak Investment Advisors Inc. acquired a new position in TE Connectivity in the second quarter valued at approximately $34,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TEL has been the subject of several recent research reports. The Goldman Sachs Group upped their target price on shares of TE Connectivity from $284.00 to $288.00 and gave the company a "buy" rating in a research report on Tuesday, October 6th. Citigroup raised their price target on TE Connectivity from $230.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, October 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of TE Connectivity in a research note on Thursday, October 22nd. UBS Group upped their price objective on TE Connectivity from $253.00 to $263.00 and gave the company a "buy" rating in a report on Thursday, October 29th. Finally, Jefferies Financial Group dropped their price objective on TE Connectivity from $265.00 to $235.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $255.50.

TE Connectivity Trading Down 0.3%

TEL opened at $218.17 on Wednesday. The firm's fifty day moving average is $212.74 and its two-hundred day moving average is $212.41. The firm has a market cap of $63.16 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.38 and a beta of 1.15. TE Connectivity Ltd. has a twelve month low of $190.27 and a twelve month high of $252.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.73.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.07. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. TE Connectivity had a net margin of 16.36% and a return on equity of 25.55%. The firm's revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 EPS. Equities research analysts anticipate that TE Connectivity Ltd. will post 13.43 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. Investors of record on Friday, November 20th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 20th. TE Connectivity's payout ratio is currently 28.18%.

TE Connectivity Profile

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.

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