Parcion Private Wealth LLC Acquires New Holdings in TE Connectivity Ltd. $TEL

Parcion Private Wealth LLC bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,363 shares of the electronics maker’s stock, valued at approximately $499,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. JNBA Financial Advisors increased its holdings in TE Connectivity by 67.1% in the 2nd quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock worth $26,000 after acquiring an additional 51 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in TE Connectivity by 0.7% during the second quarter. Legacy Wealth Asset Management LLC now owns 7,837 shares of the electronics maker’s stock valued at $1,580,000 after purchasing an additional 52 shares in the last quarter. First Citizens Bank & Trust Co. grew its position in shares of TE Connectivity by 0.8% in the third quarter. First Citizens Bank & Trust Co. now owns 6,577 shares of the electronics maker’s stock valued at $1,388,000 after purchasing an additional 52 shares during the period. First County Bank CT grew its position in shares of TE Connectivity by 2.4% in the third quarter. First County Bank CT now owns 2,326 shares of the electronics maker’s stock valued at $491,000 after purchasing an additional 54 shares during the period. Finally, Brown Lisle Cummings Inc. increased its stake in shares of TE Connectivity by 24.0% during the third quarter. Brown Lisle Cummings Inc. now owns 279 shares of the electronics maker’s stock worth $59,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $212.87 on Monday. The business’s 50 day moving average price is $211.03 and its 200 day moving average price is $213.13. The company has a market cap of $61.63 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.35 and a beta of 1.14. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.18 and a current ratio of 1.73. TE Connectivity Ltd. has a one year low of $190.27 and a one year high of $252.56.

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, beating the consensus estimate of $3.07 by $0.07. TE Connectivity had a return on equity of 25.55% and a net margin of 16.36%. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the prior year, the business earned $2.44 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts predict that TE Connectivity Ltd. will post 13.32 EPS for the current year.

TE Connectivity Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on TEL. Sanford C. Bernstein began coverage on TE Connectivity in a research note on Wednesday, September 23rd. They set an “outperform” rating and a $243.00 price objective for the company. UBS Group raised their target price on TE Connectivity from $253.00 to $263.00 and gave the company a “buy” rating in a research report on Thursday. Wall Street Zen raised TE Connectivity from a “hold” rating to a “buy” rating in a research note on Sunday, October 18th. Jefferies Financial Group reduced their price objective on TE Connectivity from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of TE Connectivity in a research note on Thursday, October 22nd. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.