Geode Capital Management LLC boosted its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,981,870 shares of the electronics maker's stock after purchasing an additional 75,658 shares during the quarter. Geode Capital Management LLC owned approximately 2.00% of TE Connectivity worth $899,681,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in TEL. Armstrong Advisory Group Inc. increased its stake in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. Wolff Wiese Magana LLC boosted its holdings in TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock worth $39,000 after acquiring an additional 245 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of TE Connectivity in the second quarter worth $43,000. Isthmus Partners LLC purchased a new position in shares of TE Connectivity in the 2nd quarter worth about $45,000. Finally, MCF Advisors LLC boosted its stake in TE Connectivity by 2,745.5% in the 2nd quarter. MCF Advisors LLC now owns 313 shares of the electronics maker's stock worth $47,000 after purchasing an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. Bank of America decreased their target price on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. StockNews.com upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 4th. Wells Fargo & Company lowered their price target on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, September 20th. The Goldman Sachs Group reduced their price objective on TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. Finally, 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, TE Connectivity presently has an average rating of "Hold" and a consensus target price of $159.55.
Get Our Latest Report on TEL
TE Connectivity Stock Up 1.0 %
Shares of TE Connectivity stock traded up $1.49 on Thursday, reaching $151.32. The stock had a trading volume of 1,605,059 shares, compared to its average volume of 1,796,427. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The company has a 50 day moving average price of $149.88 and a 200 day moving average price of $149.76. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $45.27 billion, a P/E ratio of 14.72, a P/E/G ratio of 2.07 and a beta of 1.32.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The business's revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current year.
TE Connectivity announced that its board has approved a share 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 repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
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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