Atlantic Union Bankshares Corp lowered its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 81.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,220 shares of the electronics maker's stock after selling 9,616 shares during the period. Atlantic Union Bankshares Corp's holdings in TE Connectivity were worth $335,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB bought a new stake in shares of TE Connectivity in the 1st quarter worth approximately $10,182,000. Cetera Investment Advisers grew its position in TE Connectivity by 129.2% during the 1st quarter. Cetera Investment Advisers now owns 40,922 shares of the electronics maker's stock worth $5,944,000 after acquiring an additional 23,068 shares during the last quarter. Cetera Advisors LLC grew its position in TE Connectivity by 116.9% during the 1st quarter. Cetera Advisors LLC now owns 9,693 shares of the electronics maker's stock worth $1,408,000 after acquiring an additional 5,224 shares during the last quarter. HM Payson & Co. grew its position in TE Connectivity by 3.1% during the 1st quarter. HM Payson & Co. now owns 3,431 shares of the electronics maker's stock worth $498,000 after acquiring an additional 103 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. bought a new position in TE Connectivity during the 1st quarter worth approximately $334,000. Hedge funds and other institutional investors own 91.43% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on TEL. Bank of America cut their price target on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. StockNews.com started coverage on TE Connectivity in a research report on Sunday, November 24th. They issued a "buy" rating for the company. Hsbc Global Res lowered shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a research note on Thursday, October 31st. Wolfe Research raised shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group dropped 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 note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $159.55.
Read Our Latest Stock Analysis on TE Connectivity
TE Connectivity Stock Performance
TE Connectivity stock traded down $0.03 during mid-day trading on Friday, reaching $151.12. 684,983 shares of the stock traded hands, compared to its average volume of 1,812,517. The stock has a market capitalization of $45.21 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 2.05 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The business's 50-day moving average is $149.34 and its 200-day moving average is $149.72.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts' consensus estimates of $1.95. The company had revenue of $4.07 billion during 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%. TE Connectivity's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 earnings per share. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.
TE Connectivity declared that its board has authorized a stock buyback plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is 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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