Holocene Advisors LP purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 66,483 shares of the electronics maker's stock, valued at approximately $10,038,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC acquired a new stake in shares of TE Connectivity in the second quarter valued at approximately $15,847,000. Venturi Wealth Management LLC boosted its holdings in shares of TE Connectivity by 1,632.0% in the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker's stock valued at $989,000 after acquiring an additional 6,169 shares during the period. Marshall Financial Group LLC purchased a new stake in shares of TE Connectivity during the second quarter worth approximately $995,000. Oppenheimer Asset Management Inc. raised its stake in shares of TE Connectivity by 21.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker's stock worth $10,471,000 after purchasing an additional 12,140 shares during the last quarter. Finally, Waverton Investment Management Ltd raised its stake in shares of TE Connectivity by 8.2% during the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker's stock worth $213,089,000 after purchasing an additional 106,688 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently commented on TEL. Wells Fargo & Company cut their price target on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a research note on Friday, September 20th. Hsbc Global Res cut TE Connectivity from a "hold" rating to a "moderate sell" rating in a research note on Thursday, October 31st. StockNews.com assumed coverage on TE Connectivity in a research report on Sunday, November 24th. They issued a "buy" rating for the company. Bank of America cut their price objective on TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. Finally, Wolfe Research upgraded TE Connectivity from a "peer perform" rating to an "outperform" rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity presently has an average rating of "Hold" and an average target price of $159.55.
View Our Latest Stock Analysis on TEL
TE Connectivity Stock Up 0.9 %
Shares of NYSE:TEL traded up $1.37 during mid-day trading on Wednesday, hitting $153.21. 911,413 shares of the company traded hands, compared to its average volume of 1,805,058. The firm has a market cap of $45.83 billion, a P/E ratio of 14.92, a PEG ratio of 2.10 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98. The firm's 50 day simple moving average is $149.67 and its 200 day simple moving average is $149.76.
TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company's revenue was up .8% on a year-over-year basis. During the same period last year, the business posted $1.78 EPS. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current year.
TE Connectivity declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is 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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