TE Connectivity Ltd. $TEL Shares Sold by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR trimmed its stake in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 8.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 35,945 shares of the electronics maker’s stock after selling 3,295 shares during the quarter. Generali Asset Management SPA SGR’s holdings in TE Connectivity were worth $7,587,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. SYM FINANCIAL Corp bought a new position in shares of TE Connectivity during the third quarter worth about $359,000. Independence Bank of Kentucky acquired a new stake in shares of TE Connectivity in the 3rd quarter worth about $26,000. Angeles Wealth Management LLC lifted its position in TE Connectivity by 13.0% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,216 shares of the electronics maker’s stock valued at $257,000 after purchasing an additional 140 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its position in TE Connectivity by 763.6% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 113,990 shares of the electronics maker’s stock valued at $24,061,000 after purchasing an additional 100,790 shares during the last quarter. Finally, Center for Financial Planning Inc. lifted its position in TE Connectivity by 113.6% in the 3rd quarter. Center for Financial Planning Inc. now owns 126 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of TE Connectivity from $260.00 to $235.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Robert W. Baird raised their price target on shares of TE Connectivity from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, October 6th. Wall Street Zen raised TE Connectivity from a “hold” rating to a “buy” rating in a report on Sunday, October 18th. Truist Financial reduced 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of TE Connectivity in a research report on Thursday, October 22nd. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $258.07.

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Key TE Connectivity News

Here are the key news stories impacting TE Connectivity this week:

TE Connectivity Trading Down 1.7%

NYSE:TEL opened at $221.47 on Thursday. TE Connectivity Ltd. has a 1 year low of $190.27 and a 1 year high of $252.56. The stock has a market cap of $64.12 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.22 and a beta of 1.14. The business has a fifty day moving average of $210.40 and a 200-day moving average of $213.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.88.

TE Connectivity (NYSE:TEL – Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.07 by $0.07. TE Connectivity had a net margin of 15.61% and a return on equity of 24.59%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the previous year, the business earned $2.44 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. Equities analysts predict that TE Connectivity Ltd. will post 11.46 earnings per share for the current year.

TE Connectivity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, November 20th. TE Connectivity’s dividend payout ratio is currently 30.59%.

TE Connectivity Company Profile

(Free Report)

TE Connectivity Ltd. (NYSE: TEL) is a global technology and manufacturing company that designs and produces connectivity and sensor solutions. Its products help transmit power, data and signals across a range of applications, including vehicles, industrial equipment, communications networks, aerospace systems, medical devices and consumer electronics.

The company’s product portfolio includes connectors, terminals, relays, sensors, antennas, circuit-protection products, wire and cable assemblies, and related application tooling.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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