TE Connectivity Ltd. $TEL Stock Purchased by Vest Financial LLC

Key Points

• Vest Financial increased its TE Connectivity stake by 31.8% in the third quarter, bringing its holdings to 38,915 shares valued at approximately $8.2 million. Institutional investors collectively own 91.43% of the company.
• TE Connectivity shares opened at $208.24, down 2.7%, while the company reported quarterly EPS of $2.94 and revenue of $5.16 billion, both exceeding analyst expectations. Revenue increased 13.8% year over year.
• The company declared a quarterly dividend of $0.78 per share, equivalent to a $3.12 annualized payout and a 1.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $258.07.

Vest Financial LLC lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 31.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,915 shares of the electronics maker's stock after acquiring an additional 9,400 shares during the quarter. Vest Financial LLC's holdings in TE Connectivity were worth $8,214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. JNBA Financial Advisors boosted its holdings in TE Connectivity by 67.1% in the second quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker's stock valued at $26,000 after acquiring an additional 51 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in TE Connectivity in the 2nd quarter worth $34,000. Fortitude Family Office LLC raised its holdings in TE Connectivity by 43.5% in the 3rd quarter. Fortitude Family Office LLC now owns 211 shares of the electronics maker's stock worth $45,000 after purchasing an additional 64 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in TE Connectivity in the 2nd quarter worth $48,000. Finally, Brown Lisle Cummings Inc. lifted its position in shares of TE Connectivity by 106.1% in the 1st quarter. Brown Lisle Cummings Inc. now owns 272 shares of the electronics maker's stock worth $57,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Down 2.7%

Shares of TE Connectivity stock opened at $208.24 on Friday. 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 company has a 50-day moving average of $210.00 and a 200 day moving average of $210.48. The firm has a market cap of $60.29 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.26 and a beta of 1.14. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The electronics maker reported $2.94 EPS for the quarter, topping the consensus estimate of $2.85 by $0.09. The business had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.01 billion. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. TE Connectivity's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.27 earnings per share. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 11.46 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TEL shares. Citigroup cut their target price on shares of TE Connectivity from $250.00 to $230.00 and set a "buy" rating on the stock in a research note on Monday, July 13th. Robert W. Baird increased their price target on shares of TE Connectivity from $225.00 to $250.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 6th. Sanford C. Bernstein assumed coverage on shares of TE Connectivity in a report on Wednesday, September 23rd. They issued an "outperform" rating and a $243.00 price objective for the company. Truist Financial cut their price objective on TE Connectivity from $240.00 to $215.00 and set a "hold" rating on the stock in a research report on Thursday, July 23rd. Finally, HSBC cut their price objective 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. Eleven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $258.07.

TE Connectivity 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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