5 Best Dividend Stocks to Buy According to Al Gore and David Blood

4. TE Connectivity Ltd. (NYSE: TEL)

Generation Investment’s Stake Value: $792,512,000
Percentage of Generation Investment’s 13F Portfolio: 3.32%
Dividend Yield: 1.47%
Number of Hedge Fund Holders: 39

TE Connectivity Ltd. (NYSE: TEL) is an American tech company that designs and produces clamps and detectors for several business units. It was incorporated in 2000 and stands fourth on the list of 10 best dividend stocks to buy according to Al Gore and David Blood. TE Connectivity stock has returned more than 66.79% to investors during the course of the past 12 months.

It declared a quarterly dividend of $0.50 per share on March 11, which was a 4.2% increase from its prior dividend of $0.48. The forward yield is 1.46%. On April 21, TE Connectivity posted $3.7 billion net sales for the Q2 of 2021, beating market predictions by $190 million. The company also reported its revenue, which was $3.7 billion, beating the estimates by $190 million. 

The hedge fund chaired by Al Gore and David Blood holds close to 6.14 million shares in the company worth over $792.51 million. It is the second largest holding of the London-based fund. Generation Investment’s stake in TE Connectivity stock decreased by 8% in the past few months. At the end of the first quarter of 2021, 39 hedge funds in the database of Insider Monkey held stakes worth $2.34 billion in TE Connectivity Ltd. (NYSE: TEL), same as the preceding quarter worth $2.16 billion. 

ClearBridge Investments mentioned TE Connectivity Ltd. in its Q1 2021 investor letter. Here is what the fund said:

“The portfolio’s quality bias and valuation discipline have generated compelling returns over time with typically strong relative results in more challenging environments as it did through the first three quarters of 2020. However, that same quality bias tends to create a more challenging relative performance environment for the Strategy during periods of sharp economic acceleration, which tend to benefit stocks that are more commodity linked or of lower quality. This has been the case during the vaccine- and stimulus-driven rally experienced late last year and during the most recent quarter. Sectors that lagged in the quarter included information technology (IT), where TE Connectivity performed well but trailed the sector in the first quarter after a strong 2020.”