Soltis Investment Advisors LLC Makes New $651,000 Investment in TE Connectivity Ltd. $TEL

Soltis Investment Advisors LLC purchased a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,084 shares of the electronics maker’s stock, valued at approximately $651,000.

Other hedge funds also recently bought and sold shares of the company. JNBA Financial Advisors boosted its stake in shares of TE Connectivity by 67.1% in the 2nd quarter. JNBA Financial Advisors now owns 127 shares of the electronics maker’s stock valued at $26,000 after buying an additional 51 shares during the period. Legacy Wealth Asset Management LLC increased its stake in shares of 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 worth $1,580,000 after buying an additional 52 shares during the period. First Citizens Bank & Trust Co. increased its stake in shares of TE Connectivity by 0.8% during the third quarter. First Citizens Bank & Trust Co. now owns 6,577 shares of the electronics maker’s stock worth $1,388,000 after buying an additional 52 shares during the period. First County Bank CT increased its stake in shares of TE Connectivity by 2.4% during the third quarter. First County Bank CT now owns 2,326 shares of the electronics maker’s stock worth $491,000 after buying an additional 54 shares during the period. Finally, Brown Lisle Cummings Inc. raised its holdings in TE Connectivity by 24.0% in the third quarter. Brown Lisle Cummings Inc. now owns 279 shares of the electronics maker’s stock valued at $59,000 after acquiring an additional 54 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Down 4.4%

TEL opened at $212.87 on Friday. TE Connectivity Ltd. has a one year low of $190.27 and a one year high of $252.56. The company has a market cap of $61.63 billion, a P/E 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 1.23 and a current ratio of 1.73. The business’s 50-day simple moving average is $211.03 and its 200-day simple moving average is $213.13.

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

TE Connectivity Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently issued reports on TEL. Truist Financial decreased their price target 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. Robert W. Baird increased their price objective on shares of TE Connectivity from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of TE Connectivity in a report on Thursday, October 22nd. Sanford C. Bernstein began coverage on shares of TE Connectivity in a research report on Wednesday, September 23rd. They set an “outperform” rating and a $243.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on shares of TE Connectivity from $209.00 to $220.00 and gave the stock a “cautious” rating in a research report on Friday, September 11th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $255.21.

About TE Connectivity

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.