Bremer Bank National Association bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,917 shares of the electronics maker's stock, valued at approximately $274,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of TEL. Nomura Asset Management Co. Ltd. lifted its holdings in TE Connectivity by 4.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker's stock valued at $36,732,000 after acquiring an additional 9,670 shares during the period. Glenmede Trust Co. NA increased its position in shares of TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker's stock valued at $29,322,000 after purchasing an additional 23,755 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of TE Connectivity by 1,632.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker's stock worth $989,000 after purchasing an additional 6,169 shares during the period. Waverton Investment Management Ltd boosted its holdings in shares of TE Connectivity by 8.2% in the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker's stock worth $213,089,000 after buying an additional 106,688 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in TE Connectivity by 21.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker's stock valued at $10,471,000 after buying an additional 12,140 shares during the period. 91.43% of the stock is owned by institutional investors.
TE Connectivity Price Performance
TEL traded up $2.60 during trading on Monday, hitting $146.29. 4,102,611 shares of the company traded hands, compared to its average volume of 1,308,175. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The company has a market cap of $43.76 billion, a PE ratio of 14.24, a P/E/G ratio of 1.91 and a beta of 1.32. The stock's 50-day simple moving average is $147.70 and its two-hundred day simple moving average is $148.78. TE Connectivity Ltd. has a 1 year low of $128.91 and a 1 year high of $159.98.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts' consensus estimates of $1.95. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 earnings per share. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.
TE Connectivity declared that its board has approved a share repurchase plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on TEL shares. Wells Fargo & Company dropped their price target on shares of TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating on the stock in a research note on Monday, December 16th. HSBC downgraded TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st. Hsbc Global Res cut TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. StockNews.com upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 18th. Finally, Bank of America decreased their target price on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $160.70.
Check Out Our Latest Stock Report on TE Connectivity
About TE Connectivity
(
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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