TE Connectivity Ltd. $TEL Stock Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 26.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,800 shares of the electronics maker’s stock after selling 30,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in TE Connectivity were worth $17,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEL. State Street Corp boosted its holdings in TE Connectivity by 5.7% in the second quarter. State Street Corp now owns 13,639,381 shares of the electronics maker’s stock valued at $2,750,079,000 after acquiring an additional 730,084 shares during the last quarter. Wellington Management Group LLP raised its holdings 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 purchasing an additional 2,507,569 shares during the last quarter. Baird Financial Group Inc. lifted its position in shares of 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 worth $652,796,000 after purchasing an additional 109,020 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of TE Connectivity by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,958,535 shares of the electronics maker’s stock worth $618,121,000 after purchasing an additional 118,284 shares during the period. Finally, Amundi boosted its stake in shares of TE Connectivity by 37.2% in the 1st quarter. Amundi now owns 2,256,878 shares of the electronics maker’s stock valued at $471,733,000 after purchasing an additional 612,180 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

Shares of TEL opened at $212.87 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.73 and a quick ratio of 1.23. The stock has a 50-day moving average of $211.03 and a 200-day moving average of $213.13. The company has a market cap of $61.63 billion, a PE ratio of 19.23, a P/E/G ratio of 1.35 and a beta of 1.14. TE Connectivity Ltd. has a one year low of $190.27 and a one year high of $252.56.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.07 by $0.07. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.29 billion. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.44 EPS. On average, equities research analysts predict that TE Connectivity Ltd. will post 13.32 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, November 20th. TE Connectivity’s dividend payout ratio is presently 28.18%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TEL shares. Robert W. Baird increased their price objective on shares of TE Connectivity from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 6th. Truist Financial dropped their target price on shares of TE Connectivity from $240.00 to $215.00 and set a “hold” rating on the stock in a report on Thursday, July 23rd. Sanford C. Bernstein started coverage on shares of TE Connectivity in a research report on Wednesday, September 23rd. They set an “outperform” rating and a $243.00 price target on the stock. Wells Fargo & Company increased their price target on TE Connectivity from $209.00 to $220.00 and gave the stock a “cautious” rating in a report on Friday, September 11th. Finally, Jefferies Financial Group lowered their price objective on TE Connectivity from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.21.

TE Connectivity Company 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.