Bridgewater Associates LP boosted its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 76.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,604 shares of the electronics maker's stock after acquiring an additional 38,378 shares during the period. Bridgewater Associates LP's holdings in TE Connectivity were worth $13,378,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of TEL. Versant Capital Management Inc increased its stake in shares of TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 128 shares in the last quarter. Olistico Wealth LLC bought a new position in TE Connectivity during the 2nd quarter valued at approximately $30,000. Armstrong Advisory Group Inc. boosted its holdings in 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 in the last quarter. Bank & Trust Co purchased a new stake in shares of TE Connectivity in the second quarter worth $35,000. Finally, Wolff Wiese Magana LLC increased its holdings 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 acquiring an additional 245 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.
TE Connectivity Stock Performance
Shares of TEL traded down $0.03 on Friday, reaching $151.12. The company's stock had a trading volume of 684,983 shares, compared to its average volume of 1,812,517. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The stock has a market capitalization of $45.21 billion, a P/E ratio of 14.75, a PEG 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. The stock's 50 day simple moving average is $149.28 and its two-hundred day simple moving average is $149.69.
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 (EPS) for the quarter, meeting analysts' consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the firm posted $1.78 EPS. The company's revenue for the quarter was up .8% compared to the same quarter last year. Research analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.
TE Connectivity declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on TEL. HSBC downgraded shares of TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price objective on the stock. in a research report on Thursday, October 31st. Wolfe Research raised shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research report on Thursday, September 5th. StockNews.com initiated coverage on TE Connectivity in a research report on Sunday, November 24th. They issued a "buy" rating on the stock. Hsbc Global Res cut TE Connectivity from a "hold" rating to a "moderate sell" rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company dropped their price objective on 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. One 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 MarketBeat, the company has an average rating of "Hold" and a consensus price target of $159.55.
Check Out Our Latest Report 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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