Eurizon Capital SGR S.p.A. Sells 11,768 Shares of TE Connectivity Ltd. $TEL

Eurizon Capital SGR S.p.A. cut its stake in TE Connectivity Ltd. (NYSE:TEL) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 258,748 shares of the electronics maker’s stock after selling 11,768 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in TE Connectivity were worth $54,622,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in TEL. State Street Corp boosted its stake in TE Connectivity by 5.7% in the second quarter. State Street Corp now owns 13,639,381 shares of the electronics maker’s stock valued at $2,750,079,000 after acquiring an additional 730,084 shares during the last quarter. Wellington Management Group LLP grew its stake in TE Connectivity by 48.2% in the second quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker’s stock valued at $1,554,259,000 after acquiring an additional 2,507,569 shares during the period. Baird Financial Group Inc. grew its stake in TE Connectivity by 3.5% in the second quarter. Baird Financial Group Inc. now owns 3,237,914 shares of the electronics maker’s stock valued at $652,796,000 after acquiring an additional 109,020 shares during the period. Dimensional Fund Advisors LP raised its position in shares of TE Connectivity by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,958,535 shares of the electronics maker’s stock worth $618,121,000 after purchasing an additional 118,284 shares during the period. Finally, Amundi increased its stake in TE Connectivity by 37.2% during the 1st quarter. Amundi now owns 2,256,878 shares of the electronics maker’s stock worth $471,733,000 after purchasing an additional 612,180 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the topic of several research analyst reports. Truist Financial dropped their target price on shares of TE Connectivity from $240.00 to $215.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. HSBC dropped their price objective on shares of TE Connectivity from $234.00 to $216.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. Jefferies Financial Group cut their price objective on shares of TE Connectivity from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. UBS Group upped their target price on shares of TE Connectivity from $253.00 to $263.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Finally, Wall Street Zen cut TE Connectivity from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.50.

TE Connectivity Trading Down 0.7%

Shares of NYSE:TEL opened at $216.22 on Friday. The business’s 50 day simple moving average is $213.45 and its 200 day simple moving average is $212.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.73 and a quick ratio of 1.18. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56. The company has a market capitalization of $61.99 billion, a P/E ratio of 19.53, a P/E/G ratio of 1.36 and a beta of 1.15.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data 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 quarter last year, the business posted $2.44 EPS. TE Connectivity’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts anticipate that TE Connectivity Ltd. will post 13.52 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 20th. TE Connectivity’s payout ratio is 28.18%.

TE Connectivity Profile

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.