TE Connectivity Ltd. $TEL Stock Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer reduced its TE Connectivity stake by 1.9% in the third quarter, selling 7,400 shares and retaining 379,031 shares valued at approximately $80.2 million. Institutional investors collectively own 91.43% of the company.
• TE Connectivity reported quarterly revenue of $5.31 billion and earnings of $3.14 per share, beating analyst estimates, while revenue increased 11.9% year over year.
• The company declared a quarterly dividend of $0.78 per share, equivalent to a 1.5% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $255.21.

Bank Julius Baer & Co. Ltd Zurich cut its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 379,031 shares of the electronics maker's stock after selling 7,400 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.13% of TE Connectivity worth $80,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bell Investment Advisors Inc increased its holdings in shares of TE Connectivity by 56.1% during the third quarter. Bell Investment Advisors Inc now owns 128 shares of the electronics maker's stock valued at $27,000 after acquiring an additional 46 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in TE Connectivity during the third quarter worth about $15,288,000. ProShare Advisors LLC increased its position in TE Connectivity by 6.6% during the 3rd quarter. ProShare Advisors LLC now owns 96,511 shares of the electronics maker's stock worth $20,372,000 after purchasing an additional 5,934 shares in the last quarter. Vise Technologies Inc. increased its position in TE Connectivity by 14.8% during the 3rd quarter. Vise Technologies Inc. now owns 14,542 shares of the electronics maker's stock worth $3,070,000 after purchasing an additional 1,878 shares in the last quarter. Finally, Cidel Asset Management Inc. raised its holdings in TE Connectivity by 2.2% in the third quarter. Cidel Asset Management Inc. now owns 102,714 shares of the electronics maker's stock valued at $21,681,000 after acquiring an additional 2,230 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Trading Down 0.1%

Shares of TEL stock opened at $212.87 on Monday. 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 firm has a market capitalization of $61.63 billion, a P/E ratio of 19.23, a PEG ratio of 1.35 and a beta of 1.14. The stock's fifty day moving average is $211.03 and its two-hundred day moving average is $213.13. 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 earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.07. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the business posted $2.44 EPS. The company's revenue was up 11.9% on a year-over-year basis. Research analysts expect that TE Connectivity Ltd. will post 13.32 earnings per share for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, November 20th. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. TE Connectivity's dividend payout ratio (DPR) is 28.18%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TEL shares. Sanford C. Bernstein initiated coverage on TE Connectivity in a report on Wednesday, September 23rd. They set an "outperform" rating and a $243.00 price target on the stock. Jefferies Financial Group dropped their target price on TE Connectivity from $265.00 to $235.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. HSBC lowered their target price on TE Connectivity from $234.00 to $216.00 and set a "hold" rating on the stock in a research note on Thursday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of TE Connectivity in a research note on Thursday, October 22nd. Finally, Robert W. Baird increased their target price 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. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $255.21.

About TE Connectivity

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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