Atom Investors LP raised its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 238.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,707 shares of the electronics maker's stock after purchasing an additional 3,315 shares during the quarter. Atom Investors LP's holdings in TE Connectivity were worth $711,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in TEL. Armstrong Advisory Group Inc. grew its stake in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock worth $34,000 after acquiring an additional 150 shares during the period. Wolff Wiese Magana LLC raised its position in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock valued at $39,000 after buying an additional 245 shares during the last quarter. Family Firm Inc. bought a new stake in shares of TE Connectivity during the second quarter valued at approximately $43,000. Isthmus Partners LLC bought a new stake in shares of TE Connectivity during the second quarter valued at approximately $45,000. Finally, MCF Advisors LLC raised its position in shares of TE Connectivity by 2,745.5% during the second quarter. MCF Advisors LLC now owns 313 shares of the electronics maker's stock valued at $47,000 after buying an additional 302 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.
TE Connectivity Trading Up 0.9 %
Shares of TEL traded up $1.37 during trading hours on Wednesday, reaching $153.21. 911,413 shares of the company traded hands, compared to its average volume of 1,805,058. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The stock's fifty day moving average price is $149.67 and its 200 day moving average price is $149.76. The firm has a market cap of $45.83 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 2.10 and a beta of 1.32. 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 (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts' consensus estimates of $1.95. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.
TE Connectivity declared that its Board of Directors has authorized a stock buyback program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Bank of America reduced their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. HSBC cut shares of TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. The Goldman Sachs Group reduced their price target 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. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating on the stock in a research report on Friday, September 20th. Finally, Hsbc Global Res cut shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $159.55.
Read Our Latest Analysis on TEL
TE Connectivity Company 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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