Ferguson Wellman Capital Management Inc. Grows Holdings in TE Connectivity Ltd. (NYSE:TEL)

Posted by on Mar 23rd, 2023

Ferguson Wellman Capital Management Inc. lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL – Get Rating) by 21.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,726 shares of the electronics maker’s stock after purchasing an additional 1,009 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in TE Connectivity were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Transamerica Financial Advisors Inc. increased its stake in shares of TE Connectivity by 8.8% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,009 shares of the electronics maker’s stock worth $112,000 after purchasing an additional 82 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of TE Connectivity by 0.5% during the third quarter. D.A. Davidson & CO. now owns 16,593 shares of the electronics maker’s stock worth $1,831,000 after purchasing an additional 87 shares in the last quarter. Founders Financial Securities LLC increased its stake in shares of TE Connectivity by 4.9% during the third quarter. Founders Financial Securities LLC now owns 1,905 shares of the electronics maker’s stock worth $210,000 after purchasing an additional 89 shares in the last quarter. Allworth Financial LP increased its stake in shares of TE Connectivity by 36.0% during the fourth quarter. Allworth Financial LP now owns 370 shares of the electronics maker’s stock worth $42,000 after purchasing an additional 98 shares in the last quarter. Finally, Commerce Bank increased its stake in shares of TE Connectivity by 1.9% during the second quarter. Commerce Bank now owns 5,410 shares of the electronics maker’s stock worth $612,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 91.10% of the company’s stock.

TE Connectivity Stock Performance

NYSE:TEL opened at $123.81 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.66 and a quick ratio of 0.99. The firm has a market capitalization of $39.18 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.76 and a beta of 1.32. The company’s 50-day moving average is $127.57 and its two-hundred day moving average is $122.21. TE Connectivity Ltd. has a 1-year low of $104.76 and a 1-year high of $138.24.

TE Connectivity (NYSE:TEL – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The electronics maker reported $1.53 EPS for the quarter, topping the consensus estimate of $1.50 by $0.03. TE Connectivity had a net margin of 13.85% and a return on equity of 21.25%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the business posted $1.76 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts forecast that TE Connectivity Ltd. will post 6.56 EPS for the current year.

TE Connectivity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 16th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.91%. TE Connectivity’s dividend payout ratio is currently 32.05%.

Analyst Ratings Changes

A number of analysts have recently commented on TEL shares. Stifel Nicolaus cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $130.00 target price for the company. in a research note on Wednesday, February 15th. StockNews.com assumed coverage on shares of TE Connectivity in a research report on Thursday, March 16th. They set a “hold” rating on the stock. JPMorgan Chase & Co. lowered their price target on shares of TE Connectivity from $135.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 20th. Oppenheimer lowered shares of TE Connectivity from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 6th. Finally, Robert W. Baird lowered their price target on shares of TE Connectivity from $147.00 to $143.00 in a research report on Thursday, January 26th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of “Hold” and an average target price of $136.00.

TE Connectivity Profile

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TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensor solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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