Natixis Advisors LLC Purchases 8,737 Shares of TE Connectivity Ltd. (NYSE:TEL)

Natixis Advisors LLC increased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 6.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 152,718 shares of the electronics maker’s stock after buying an additional 8,737 shares during the period. Natixis Advisors LLC’s holdings in TE Connectivity were worth $23,059,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Manning & Napier Advisors LLC bought a new position in shares of TE Connectivity in the 2nd quarter valued at about $15,847,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of TE Connectivity by 5.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 283,128 shares of the electronics maker’s stock worth $41,117,000 after purchasing an additional 15,052 shares during the period. Marshall Financial Group LLC purchased a new position in shares of TE Connectivity in the 2nd quarter worth approximately $995,000. Venturi Wealth Management LLC raised its holdings in TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after buying an additional 6,169 shares during the period. Finally, Waverton Investment Management Ltd lifted its position in TE Connectivity by 8.2% in the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after buying an additional 106,688 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Vertical Research initiated coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price on the stock. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Bank of America cut their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Truist Financial boosted their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Stock Up 0.0 %

Shares of TE Connectivity stock opened at $148.36 on Tuesday. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The stock has a market cap of $44.38 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 2.02 and a beta of 1.33. The firm’s 50-day moving average is $148.57 and its two-hundred day moving average is $149.42.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. TE Connectivity’s revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $1.78 earnings per share. As a group, research analysts expect that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

TE Connectivity announced that its board has approved a stock buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

TE Connectivity Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 25th will be paid a dividend of $0.65 per share. This represents a dividend yield of 1.75%. The ex-dividend date is Friday, November 22nd. TE Connectivity’s dividend payout ratio (DPR) is currently 25.32%.

TE Connectivity Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.