TE Connectivity Ltd. $TEL Stock: Carnegie Investment Counsel Increases Holdings

Key Points

• Carnegie Investment Counsel increased its TE Connectivity stake by 19.7% in the third quarter, bringing its holdings to 149,477 shares valued at approximately $31.6 million. Institutional investors collectively own 91.43% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $258.07; 11 analysts rate the stock Buy, four Hold, and one Sell.
• TE Connectivity exceeded quarterly earnings and revenue expectations, reporting $2.94 in EPS and $5.16 billion in revenue, while announcing a quarterly dividend of $0.78 per share, equivalent to a 1.5% annual yield.

Carnegie Investment Counsel lifted its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 19.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,477 shares of the electronics maker's stock after buying an additional 24,614 shares during the quarter. Carnegie Investment Counsel owned 0.05% of TE Connectivity worth $31,552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Diversify Advisory Services LLC raised its position in shares of TE Connectivity by 6.8% during the 3rd quarter. Diversify Advisory Services LLC now owns 2,585 shares of the electronics maker's stock worth $550,000 after purchasing an additional 164 shares during the last quarter. South Shore Capital Advisors purchased a new stake in TE Connectivity in the 3rd quarter valued at approximately $279,000. Prime Capital Investment Advisors LLC lifted its stake in TE Connectivity by 3.7% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,540 shares of the electronics maker's stock valued at $747,000 after buying an additional 127 shares in the last quarter. Net Worth Advisory Group grew its holdings in TE Connectivity by 8.1% during the 3rd quarter. Net Worth Advisory Group now owns 1,480 shares of the electronics maker's stock valued at $322,000 after buying an additional 111 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in TE Connectivity by 1.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,039 shares of the electronics maker's stock valued at $9,085,000 after buying an additional 568 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of TE Connectivity from $284.00 to $288.00 and gave the company a "buy" rating in a research note on Tuesday, October 6th. Wells Fargo & Company raised their price target on shares of TE Connectivity from $209.00 to $220.00 and gave the stock a "cautious" rating in a research note on Friday, September 11th. UBS Group lifted their price target on shares of TE Connectivity from $241.00 to $253.00 and gave the stock a "buy" rating in a report on Wednesday, October 7th. Wall Street Zen upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating in a report on Sunday. Finally, Jefferies Financial Group cut their price objective on shares of TE Connectivity from $265.00 to $235.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $258.07.

TE Connectivity Stock Performance

NYSE TEL opened at $213.44 on Wednesday. TE Connectivity Ltd. has a 1-year low of $190.27 and a 1-year high of $252.56. The business's 50-day simple moving average is $210.13 and its 200-day simple moving average is $210.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.88 and a quick ratio of 1.23. The firm has a market capitalization of $61.79 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.25 and a beta of 1.14.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.09. The business had revenue of $5.16 billion for the quarter, compared to analysts' expectations of $5.01 billion. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The business'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 analysts predict that TE Connectivity Ltd. will post 11.46 EPS for the current year.

TE Connectivity Dividend Announcement

The firm 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 dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. TE Connectivity's dividend payout ratio is currently 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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