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

Eurizon Capital SGR S.p.A. trimmed its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & 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. owned about 0.09% of TE Connectivity worth $54,622,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bell Investment Advisors Inc boosted its position in shares of TE Connectivity by 56.1% in the third quarter. Bell Investment Advisors Inc now owns 128 shares of the electronics maker’s stock worth $27,000 after buying an additional 46 shares during the period. JNBA Financial Advisors grew its stake in TE Connectivity by 67.1% during the 2nd quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock valued at $26,000 after acquiring an additional 51 shares in the last quarter. Legacy Wealth Asset Management LLC increased its holdings in shares of TE Connectivity by 0.7% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 7,837 shares of the electronics maker’s stock valued at $1,580,000 after purchasing an additional 52 shares during the period. First Citizens Bank & Trust Co. increased its holdings in shares of TE Connectivity by 0.8% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 6,577 shares of the electronics maker’s stock valued at $1,388,000 after purchasing an additional 52 shares during the period. Finally, First County Bank CT lifted its position in shares of TE Connectivity by 2.4% in the third quarter. First County Bank CT now owns 2,326 shares of the electronics maker’s stock worth $491,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group raised their price target on shares of TE Connectivity from $253.00 to $263.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of TE Connectivity in a report on Thursday, October 22nd. Wall Street Zen lowered shares of TE Connectivity from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Citigroup increased their price target on shares of TE Connectivity from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Finally, Fox Advisors downgraded shares of TE Connectivity from an “overweight” rating to an “equal weight” rating in a report on Monday, November 2nd. Eleven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, TE Connectivity has a consensus rating of “Moderate Buy” and a consensus price target of $255.50.

TE Connectivity Stock Down 0.7%

Shares of TE Connectivity stock opened at $216.22 on Friday. TE Connectivity Ltd. has a 12-month low of $190.27 and a 12-month high of $252.56. The company has a quick ratio of 1.18, a current ratio of 1.73 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $213.45 and a two-hundred day moving average price of $212.28. The stock has a market capitalization of $61.99 billion, a P/E ratio of 19.53, a PEG ratio of 1.36 and a beta of 1.15.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.07. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.29 billion. TE Connectivity had a net margin of 16.36% and a return on equity of 25.55%. TE Connectivity’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 earnings per share. Equities analysts expect that TE Connectivity Ltd. will post 13.52 earnings per share 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 given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 20th. TE Connectivity’s payout ratio is currently 28.18%.

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.