TE Connectivity Ltd. $TEL Stock: Bahl & Gaynor LLC Decreases Stake

Bahl & Gaynor LLC lessened its position in TE Connectivity Ltd. (NYSE:TEL) by 21.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 690,276 shares of the electronics maker’s stock after selling 188,809 shares during the quarter. Bahl & Gaynor LLC’s holdings in TE Connectivity were worth $145,704,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of 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 buying an additional 2,507,569 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of TE Connectivity by 385.0% during the 1st quarter. Hsbc Holdings PLC now owns 1,115,692 shares of the electronics maker’s stock worth $232,677,000 after acquiring an additional 885,658 shares during the last quarter. State Street Corp raised its stake in TE Connectivity by 5.7% in the 2nd 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 period. Alyeska Investment Group L.P. raised its stake in TE Connectivity by 415.4% in the 2nd quarter. Alyeska Investment Group L.P. now owns 849,218 shares of the electronics maker’s stock valued at $171,211,000 after acquiring an additional 684,463 shares during the period. Finally, Beutel Goodman & Co Ltd. lifted its holdings in TE Connectivity by 2,545,072.0% during the 3rd quarter. Beutel Goodman & Co Ltd. now owns 636,293 shares of the electronics maker’s stock valued at $134,308,000 after purchasing an additional 636,268 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TEL opened at $218.17 on Wednesday. The business has a fifty day simple moving average of $212.74 and a 200 day simple moving average of $212.41. The company has a market capitalization of $63.16 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.38 and a beta of 1.15. 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 0.38, a current ratio of 1.73 and a quick ratio of 1.18.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data 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 return on equity of 25.55% and a net margin of 16.36%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter last year, the business earned $2.44 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Research analysts expect that TE Connectivity Ltd. will post 13.43 EPS for the current year.

TE Connectivity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be paid a $0.78 dividend. The ex-dividend date is Friday, November 20th. This represents a $3.12 annualized dividend and a dividend yield of 1.4%. TE Connectivity’s dividend payout ratio is 28.18%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group reduced their price objective on shares of TE Connectivity from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Wall Street Zen cut shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Saturday. HSBC reduced their target price on shares of TE Connectivity from $234.00 to $216.00 and set a “hold” rating for the company in a report on Thursday, July 23rd. Barclays upped their price target on shares of TE Connectivity from $300.00 to $304.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Finally, The Goldman Sachs Group increased their price target on shares of TE Connectivity from $284.00 to $288.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.