Ascent Group LLC reduced its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 83.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,758 shares of the electronics maker's stock after selling 8,897 shares during the quarter. Ascent Group LLC's holdings in TE Connectivity were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of TEL. Armstrong Advisory Group Inc. grew its stake in TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. Wolff Wiese Magana LLC grew its position in TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock worth $39,000 after acquiring an additional 245 shares in the last quarter. Family Firm Inc. bought a new stake in TE Connectivity during the second quarter worth approximately $43,000. Isthmus Partners LLC bought a new stake in shares of TE Connectivity in the 2nd quarter valued at approximately $45,000. Finally, MCF Advisors LLC boosted its holdings in shares of TE Connectivity by 2,745.5% in the 2nd quarter. MCF Advisors LLC now owns 313 shares of the electronics maker's stock worth $47,000 after purchasing an additional 302 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. HSBC downgraded TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target for the company. in a research report on Thursday, October 31st. The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research report on Tuesday, October 1st. Hsbc Global Res lowered TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. Wolfe Research upgraded TE Connectivity from a "peer perform" rating to an "outperform" rating in a report on Thursday, September 5th. Finally, Bank of America dropped their price objective on TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, TE Connectivity currently has an average rating of "Hold" and an average target price of $159.55.
View Our Latest Stock Analysis on TEL
TE Connectivity Stock Down 0.5 %
Shares of TEL traded down $0.77 during mid-day trading on Thursday, hitting $152.43. The company's stock had a trading volume of 963,681 shares, compared to its average volume of 1,801,479. The firm has a market capitalization of $45.60 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 2.06 and a beta of 1.32. The company's 50-day moving average is $149.67 and its 200-day moving average is $149.76. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98.
TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. The business had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.
TE Connectivity declared that its Board of Directors has authorized a stock buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
TE Connectivity Profile
(
Free Report)
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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