United Services Automobile Association Grows Stake in TE Connectivity Ltd (TEL)

United Services Automobile Association lifted its position in TE Connectivity Ltd (NYSE:TEL) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 137,003 shares of the electronics maker’s stock after purchasing an additional 5,479 shares during the quarter. United Services Automobile Association’s holdings in TE Connectivity were worth $12,047,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Standard Life Aberdeen plc grew its position in shares of TE Connectivity by 3.6% during the third quarter. Standard Life Aberdeen plc now owns 282,263 shares of the electronics maker’s stock worth $24,821,000 after acquiring an additional 9,795 shares during the last quarter. AMP Capital Investors Ltd grew its position in shares of TE Connectivity by 6.4% during the third quarter. AMP Capital Investors Ltd now owns 180,245 shares of the electronics maker’s stock worth $15,879,000 after acquiring an additional 10,882 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of TE Connectivity by 25.7% during the third quarter. Baird Financial Group Inc. now owns 69,349 shares of the electronics maker’s stock worth $6,022,000 after acquiring an additional 14,182 shares during the last quarter. Putnam FL Investment Management Co. purchased a new position in shares of TE Connectivity during the third quarter worth approximately $334,000. Finally, Dimensional Fund Advisors LP grew its position in shares of TE Connectivity by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,477,123 shares of the electronics maker’s stock worth $217,818,000 after acquiring an additional 18,069 shares during the last quarter. 91.74% of the stock is owned by institutional investors.

NYSE:TEL opened at $73.33 on Friday. TE Connectivity Ltd has a 1-year low of $72.60 and a 1-year high of $108.23. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.98 and a current ratio of 1.41. The firm has a market capitalization of $25.97 billion, a P/E ratio of 13.07, a PEG ratio of 1.18 and a beta of 1.16.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.02. TE Connectivity had a net margin of 17.69% and a return on equity of 20.06%. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the firm posted $1.25 EPS. TE Connectivity’s quarterly revenue was up 8.5% on a year-over-year basis. Analysts forecast that TE Connectivity Ltd will post 5.71 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 23rd were given a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, November 21st. This represents a $1.76 dividend on an annualized basis and a yield of 2.40%. TE Connectivity’s dividend payout ratio (DPR) is 31.37%.

TEL has been the topic of a number of research reports. Morgan Stanley lowered their target price on shares of TE Connectivity from $116.00 to $107.00 and set an “overweight” rating on the stock in a research report on Monday, September 17th. Royal Bank of Canada set a $114.00 target price on shares of TE Connectivity and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Robert W. Baird lowered shares of TE Connectivity from an “outperform” rating to a “neutral” rating in a research report on Monday, October 1st. ValuEngine lowered shares of TE Connectivity from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Finally, Macquarie initiated coverage on shares of TE Connectivity in a research report on Monday, October 8th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. TE Connectivity currently has an average rating of “Buy” and a consensus price target of $105.64.

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About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the Asia–Pacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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

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