Cerity Partners LLC grew its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 38.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,223 shares of the electronics maker's stock after purchasing an additional 9,699 shares during the period. Cerity Partners LLC's holdings in TE Connectivity were worth $5,318,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of TEL. Silvercrest Asset Management Group LLC raised its stake in shares of TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker's stock valued at $432,000 after buying an additional 68 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in TE Connectivity by 18.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,665 shares of the electronics maker's stock worth $1,404,000 after purchasing an additional 1,481 shares in the last quarter. Tidal Investments LLC grew its stake in shares of TE Connectivity by 17.4% during the 1st quarter. Tidal Investments LLC now owns 16,576 shares of the electronics maker's stock worth $2,407,000 after purchasing an additional 2,452 shares during the period. Swedbank AB purchased a new position in shares of TE Connectivity during the 1st quarter valued at approximately $10,182,000. Finally, Cetera Investment Advisers lifted its stake in shares of TE Connectivity by 129.2% in the 1st quarter. Cetera Investment Advisers now owns 40,922 shares of the electronics maker's stock valued at $5,944,000 after purchasing an additional 23,068 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on TEL. 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 upgraded TE Connectivity from a "peer perform" rating to an "outperform" rating in a research report on Thursday, September 5th. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Sunday, November 24th. They issued a "buy" rating on the stock. Wells Fargo & Company reduced their target price on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, September 20th. Finally, Bank of America lowered their price target on 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 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 company. According to data from MarketBeat, TE Connectivity currently has an average rating of "Hold" and an average target price of $159.55.
Read Our Latest Research Report on TEL
TE Connectivity Trading Down 0.0 %
Shares of TEL traded down $0.03 during midday trading on Friday, reaching $151.12. The company had a trading volume of 684,983 shares, compared to its average volume of 1,812,517. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98. The stock has a market cap 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 firm has a 50 day simple moving average of $149.34 and a 200-day simple moving average of $149.71. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting the consensus estimate of $1.95. The company had revenue of $4.07 billion for 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%. TE Connectivity's revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 EPS. Research analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.
TE Connectivity announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are typically 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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