TE Connectivity Ltd. $TEL Stock: Inscription Capital LLC Decreases Position

Inscription Capital LLC trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 62.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,504 shares of the electronics maker’s stock after selling 4,094 shares during the period. Inscription Capital LLC’s holdings in TE Connectivity were worth $529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC lifted its stake in shares of TE Connectivity by 198.2% in the third quarter. Chicago Partners Investment Group LLC now owns 11,931 shares of the electronics maker’s stock worth $2,482,000 after acquiring an additional 7,930 shares in the last quarter. Richardson Financial Services Inc. grew its stake in TE Connectivity by 33.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 517 shares of the electronics maker’s stock valued at $109,000 after purchasing an additional 129 shares in the last quarter. 3Chopt Investment Partners LLC increased its holdings in TE Connectivity by 62.2% during the 3rd quarter. 3Chopt Investment Partners LLC now owns 2,636 shares of the electronics maker’s stock worth $556,000 after purchasing an additional 1,011 shares during the last quarter. Compass Financial Management LLC acquired a new position in shares of TE Connectivity in the 3rd quarter valued at approximately $39,000. Finally, Rakuten Investment Management Inc. acquired a new position in shares of TE Connectivity in the 3rd quarter valued at approximately $11,080,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TEL shares. UBS Group increased their target price on TE Connectivity from $253.00 to $263.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. The Goldman Sachs Group boosted their target price on shares of TE Connectivity from $284.00 to $288.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Jefferies Financial Group cut their target price on shares of TE Connectivity from $265.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Wells Fargo & Company increased their price target on shares of TE Connectivity from $209.00 to $220.00 and gave the stock a “cautious” rating in a research report on Friday, September 11th. Finally, Citigroup boosted their price objective on TE Connectivity from $230.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Eleven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.50.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $207.59 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.73 and a debt-to-equity ratio of 0.38. TE Connectivity Ltd. has a fifty-two week low of $190.27 and a fifty-two week high of $252.56. The firm has a 50-day simple moving average of $212.17 and a 200 day simple moving average of $212.54. The company has a market cap of $60.10 billion, a PE ratio of 18.75, a P/E/G ratio of 1.30 and a beta of 1.15.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.07. TE Connectivity had a net margin of 16.36% and a return on equity of 25.55%. 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 company posted $2.44 earnings per share. TE Connectivity’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 13.43 EPS for the current year.

TE Connectivity Dividend Announcement

The business also recently declared 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 of this dividend is Friday, November 20th. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. TE Connectivity’s dividend payout ratio (DPR) is 28.18%.

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.

TE Connectivity operates internationally and traces its history to Tyco Electronics, which became an independent company following its separation from Tyco International in 2007.