TE Connectivity Ltd. $TEL Stake Lowered by Virtus Advisers LLC

Virtus Advisers LLC cut its holdings in TE Connectivity Ltd. (NYSE:TEL) by 31.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,308 shares of the electronics maker’s stock after selling 4,283 shares during the quarter. TE Connectivity makes up 0.7% of Virtus Advisers LLC’s portfolio, making the stock its 20th largest position. Virtus Advisers LLC’s holdings in TE Connectivity were worth $1,965,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP lifted its position in TE Connectivity by 48.2% during the 2nd quarter. Wellington Management Group LLP now owns 7,709,235 shares of the electronics maker’s stock worth $1,554,259,000 after buying an additional 2,507,569 shares in the last quarter. Hsbc Holdings PLC grew its holdings in 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 grew its holdings in TE Connectivity by 5.7% during the 2nd quarter. State Street Corp now owns 13,639,381 shares of the electronics maker’s stock worth $2,750,079,000 after acquiring an additional 730,084 shares during the last quarter. Alyeska Investment Group L.P. increased its position 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 in the last quarter. Finally, Beutel Goodman & Co Ltd. increased its position in TE Connectivity by 2,545,072.0% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 636,293 shares of the electronics maker’s stock valued at $134,308,000 after acquiring an additional 636,268 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Down 0.7%

TE Connectivity stock traded down $1.60 during mid-day trading on Friday, hitting $216.22. The stock had a trading volume of 1,350,112 shares, compared to its average volume of 2,151,961. The stock has a 50-day simple moving average of $213.45 and a two-hundred day simple moving average of $212.28. The stock has a market capitalization of $61.99 billion, a PE ratio of 19.53, a P/E/G ratio of 1.36 and a beta of 1.15. 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.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $3.07 by $0.07. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $5.29 billion. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 13.52 EPS for the current year.

TE Connectivity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be paid a $0.78 dividend. 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 dividend payout ratio (DPR) is 28.18%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TEL. Wall Street Zen downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Weiss Ratings reissued a “buy (b)” rating on shares of TE Connectivity in a research note on Thursday, October 22nd. The Goldman Sachs Group raised 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. Barclays boosted their price objective on shares of TE Connectivity from $300.00 to $304.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Finally, HSBC dropped their price objective on shares of TE Connectivity from $234.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $255.50.

TE Connectivity Company 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.