MBL Wealth LLC Acquires 3,674 Shares of TE Connectivity Ltd. $TEL

MBL Wealth LLC boosted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 328.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,791 shares of the electronics maker’s stock after acquiring an additional 3,674 shares during the period. MBL Wealth LLC’s holdings in TE Connectivity were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp increased its stake in shares of 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 purchasing an additional 730,084 shares in the last quarter. Wellington Management Group LLP lifted its stake in TE Connectivity by 48.2% in the 2nd 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 in the last quarter. Baird Financial Group Inc. lifted its stake in TE Connectivity by 3.5% in the 2nd quarter. Baird Financial Group Inc. now owns 3,237,914 shares of the electronics maker’s stock valued at $652,796,000 after buying an additional 109,020 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in TE Connectivity by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,958,535 shares of the electronics maker’s stock valued at $618,121,000 after buying an additional 118,284 shares during the last quarter. Finally, Amundi grew its holdings in TE Connectivity by 37.2% during the 1st quarter. Amundi now owns 2,256,878 shares of the electronics maker’s stock valued at $471,733,000 after buying an additional 612,180 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 0.3%

Shares of NYSE:TEL opened at $207.84 on Friday. The stock’s 50-day moving average price is $209.83 and its two-hundred day moving average price is $210.46. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. TE Connectivity Ltd. has a 12-month low of $190.27 and a 12-month high of $252.56. The firm has a market cap of $60.17 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.23 and a beta of 1.14.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $2.94 EPS for the quarter, beating the consensus estimate of $2.85 by $0.09. TE Connectivity had a return on equity of 24.59% and a net margin of 15.61%. The company had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the business earned $2.27 EPS. The firm’s revenue was up 13.8% on a year-over-year basis. On average, research analysts forecast that TE Connectivity Ltd. will post 11.46 EPS 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. 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 currently 30.59%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut 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. The Goldman Sachs Group upped their price objective on shares of TE Connectivity from $284.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. Jefferies Financial Group decreased 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 report on Thursday, July 23rd. Truist Financial lowered their target price on shares of TE Connectivity from $240.00 to $215.00 and set a “hold” rating for the company in a research note on Thursday, July 23rd. Finally, Wall Street Zen raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note on Sunday, October 18th. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.07.

TE Connectivity Profile

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.