IHT Wealth Management LLC Purchases New Position in TE Connectivity Ltd (NYSE:TEL)

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IHT Wealth Management LLC purchased a new position in TE Connectivity Ltd (NYSE:TEL) in the 3rd quarter, HoldingsChannel reports. The firm purchased 2,773 shares of the electronics maker’s stock, valued at approximately $258,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Morgan Stanley boosted its holdings in shares of TE Connectivity by 4.8% in the 2nd quarter. Morgan Stanley now owns 933,757 shares of the electronics maker’s stock worth $89,434,000 after purchasing an additional 43,022 shares during the period. Andra AP fonden boosted its stake in TE Connectivity by 20.0% during the third quarter. Andra AP fonden now owns 67,100 shares of the electronics maker’s stock worth $6,252,000 after buying an additional 11,200 shares during the period. Evercore Wealth Management LLC purchased a new position in TE Connectivity during the second quarter worth $269,000. Signaturefd LLC increased its position in TE Connectivity by 3.3% during the third quarter. Signaturefd LLC now owns 8,553 shares of the electronics maker’s stock valued at $797,000 after acquiring an additional 273 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in TE Connectivity during the third quarter valued at $703,000. 90.50% of the stock is currently owned by institutional investors.

NYSE TEL opened at $89.59 on Wednesday. The stock has a market cap of $31.14 billion, a PE ratio of 16.14, a PEG ratio of 1.70 and a beta of 1.14. TE Connectivity Ltd has a 12 month low of $69.84 and a 12 month high of $97.99. The company’s 50-day moving average price is $92.72 and its 200-day moving average price is $91.69. The company has a current ratio of 1.57, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. The company had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.27 billion. TE Connectivity had a net margin of 13.71% and a return on equity of 18.20%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.35 EPS. As a group, sell-side analysts forecast that TE Connectivity Ltd will post 5.11 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, November 21st. TE Connectivity’s dividend payout ratio (DPR) is presently 33.15%.

Several equities research analysts have recently issued reports on TEL shares. ValuEngine lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a report on Tuesday. Morgan Stanley downgraded shares of TE Connectivity from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $98.00 to $95.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. started coverage on shares of TE Connectivity in a research report on Tuesday, October 22nd. They issued a “neutral” rating and a $102.00 price objective on the stock. Zacks Investment Research lowered shares of TE Connectivity from a “hold” rating to a “sell” rating and set a $97.00 price objective on the stock. in a research report on Monday, October 21st. Finally, Citigroup lowered TE Connectivity from a “buy” rating to a “neutral” rating and dropped their target price for the company from $105.00 to $95.00 in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. TE Connectivity currently has an average rating of “Hold” and a consensus price target of $93.07.

About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia-Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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