UNIVEST FINANCIAL Corp Purchases 6,369 Shares of TE Connectivity Ltd. $TEL

UNIVEST FINANCIAL Corp grew its position in TE Connectivity Ltd. (NYSE:TEL) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,151 shares of the electronics maker’s stock after buying an additional 6,369 shares during the period. TE Connectivity accounts for approximately 0.7% of UNIVEST FINANCIAL Corp’s investment portfolio, making the stock its 29th largest position. UNIVEST FINANCIAL Corp’s holdings in TE Connectivity were worth $13,963,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TEL shares. Citigroup upped their price target on TE Connectivity from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Truist Financial cut their price objective on TE Connectivity from $240.00 to $215.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Wall Street Zen lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Sanford C. Bernstein began coverage on shares of TE Connectivity in a research report on Wednesday, September 23rd. They issued an “outperform” rating and a $243.00 target price on the stock. Finally, Fox Advisors cut shares of TE Connectivity from an “overweight” rating to an “equal weight” rating in a research report on Monday, November 2nd. Eleven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and an average target price of $255.50.

TE Connectivity Price Performance

TEL stock opened at $219.55 on Thursday. The business’s fifty day moving average price is $212.98 and its 200 day moving average price is $212.39. TE Connectivity Ltd. has a 12-month low of $190.27 and a 12-month high of $252.56. The company has a current ratio of 1.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $62.95 billion, a PE ratio of 19.83, a P/E/G ratio of 1.36 and a beta of 1.15.

TE Connectivity (NYSE:TEL) last released 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. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate of $5.29 billion. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. TE Connectivity’s revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 EPS. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 13.52 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be issued a $0.78 dividend. The ex-dividend date is Friday, November 20th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.4%. 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.