TE Connectivity Ltd. $TEL Stock Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 21.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,215 shares of the electronics maker’s stock after selling 14,737 shares during the period. Nisa Investment Advisors LLC’s holdings in TE Connectivity were worth $11,233,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Diversify Advisory Services LLC grew its holdings in shares of TE Connectivity by 6.8% in the third 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 bought a new stake in TE Connectivity during the 3rd quarter valued at $279,000. Prime Capital Investment Advisors LLC raised its holdings in TE Connectivity by 3.7% during 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 during the last quarter. Net Worth Advisory Group raised 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 boosted its position 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 period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $208.24 on Friday. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56. 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’s 50-day moving average is $210.00 and its 200 day moving average is $210.48. The stock has a market capitalization of $60.29 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.26 and a beta of 1.14.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.09. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The company had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the firm earned $2.27 earnings per share. TE Connectivity’s revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that TE Connectivity Ltd. will post 11.46 earnings per share 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 dividend of $0.78 per share. The ex-dividend date is Friday, November 20th. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. TE Connectivity’s dividend payout ratio is 30.59%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial dropped their target price on shares of TE Connectivity from $240.00 to $215.00 and set a “hold” rating for the company in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of TE Connectivity in a report on Friday, July 24th. UBS Group boosted their target price on TE Connectivity from $241.00 to $253.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Citigroup decreased their target price on TE Connectivity from $250.00 to $230.00 and set a “buy” rating for the company in a report on Monday, July 13th. Finally, Jefferies Financial Group dropped their price target on TE Connectivity from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, TE Connectivity has an average rating of “Moderate Buy” and an average price target of $258.07.

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.