TE Connectivity Ltd. $TEL Stock: Leuthold Group LLC Grows Stake

Leuthold Group LLC raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 13.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,288 shares of the electronics maker’s stock after buying an additional 3,983 shares during the period. Leuthold Group LLC’s holdings in TE Connectivity were worth $7,238,000 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. Clear Wave Wealth Management LLC grew its holdings in shares of TE Connectivity by 9.7% in the 3rd quarter. Clear Wave Wealth Management LLC now owns 1,489 shares of the electronics maker’s stock valued at $314,000 after buying an additional 132 shares during the period. Beverly Hills Private Wealth LLC increased its stake in TE Connectivity by 220.3% during the 3rd quarter. Beverly Hills Private Wealth LLC now owns 32,067 shares of the electronics maker’s stock worth $6,769,000 after purchasing an additional 22,056 shares in the last quarter. Brighton Jones LLC raised its holdings in TE Connectivity by 39.7% during the 3rd quarter. Brighton Jones LLC now owns 11,018 shares of the electronics maker’s stock worth $2,326,000 after buying an additional 3,132 shares during the period. Ethic Inc. raised its holdings in TE Connectivity by 6.2% during the 3rd quarter. Ethic Inc. now owns 31,866 shares of the electronics maker’s stock worth $6,726,000 after buying an additional 1,872 shares during the period. Finally, StoneX Group Inc. lifted its stake in TE Connectivity by 21.6% in the third quarter. StoneX Group Inc. now owns 1,389 shares of the electronics maker’s stock valued at $288,000 after buying an additional 247 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 5.7%

NYSE:TEL opened at $218.85 on Tuesday. TE Connectivity Ltd. has a twelve month low of $190.27 and a twelve month high of $252.56. The company has a quick ratio of 1.18, a current ratio of 1.73 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average price of $212.49 and a two-hundred day moving average price of $212.48. The company has a market cap of $63.36 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 1.39 and a beta of 1.15.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.07. TE Connectivity had a net margin of 16.36% and a return on equity of 25.55%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period last year, the business earned $2.44 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, analysts expect that TE Connectivity Ltd. will post 13.43 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 20th. This represents a $3.12 dividend on an annualized basis and a yield of 1.4%. TE Connectivity’s dividend payout ratio (DPR) is 28.18%.

Analyst Ratings Changes

Several research firms have recently weighed in on TEL. Citigroup upped their price target on shares of TE Connectivity from $230.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Fox Advisors lowered shares of TE Connectivity from an “overweight” rating to an “equal weight” rating in a report on Monday, November 2nd. The Goldman Sachs Group upped their target price on shares of TE Connectivity from $284.00 to $288.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Truist Financial lowered their target price on TE Connectivity from $240.00 to $215.00 and set a “hold” rating for the company in a report on Thursday, July 23rd. Finally, HSBC dropped their price target 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. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $255.50.

About TE Connectivity

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.

TE Connectivity operates internationally and traces its history to Tyco Electronics, which became an independent company following its separation from Tyco International in 2007.