Empowered Funds LLC raised its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 26.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,743 shares of the electronics maker's stock after buying an additional 5,563 shares during the period. Empowered Funds LLC's holdings in TE Connectivity were worth $4,038,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Simplicity Wealth LLC lifted its position in TE Connectivity by 2.7% in the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker's stock valued at $377,000 after acquiring an additional 67 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of TE Connectivity by 2.3% during the first 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. Optas LLC grew its holdings in TE Connectivity by 4.2% during the third quarter. Optas LLC now owns 1,778 shares of the electronics maker's stock worth $268,000 after buying an additional 71 shares in the last quarter. Gradient Investments LLC raised its position in TE Connectivity by 2.2% in the 2nd quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker's stock valued at $542,000 after buying an additional 76 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in TE Connectivity by 3.4% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 2,297 shares of the electronics maker's stock valued at $346,000 after acquiring an additional 76 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity Stock Performance
NYSE TEL traded up $0.01 during trading on Monday, hitting $148.36. 1,296,528 shares of the company's stock traded hands, compared to its average volume of 1,826,814. The stock has a market capitalization of $44.38 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 2.02 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The business has a 50 day moving average of $148.50 and a 200-day moving average of $149.36. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98.
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, meeting analysts' consensus estimates of $1.95. The business 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%. TE Connectivity's revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.
TE Connectivity declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes 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 leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on TEL. Vertical Research started coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a "hold" rating and a $155.00 target price for the company. Truist Financial lifted their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a "hold" rating in a research report on Thursday, July 25th. Wolfe Research raised TE Connectivity from a "peer perform" rating to an "outperform" rating in a report on Thursday, September 5th. StockNews.com assumed coverage on TE Connectivity in a report on Saturday. They set a "buy" rating on the stock. Finally, HSBC cut 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $159.55.
View Our Latest Stock Report on TE Connectivity
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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