Intech Investment Management LLC cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 54.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,732 shares of the electronics maker's stock after selling 5,631 shares during the quarter. Intech Investment Management LLC's holdings in TE Connectivity were worth $714,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in TEL. Ameriprise Financial Inc. grew its position in TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker's stock worth $944,791,000 after acquiring an additional 1,304,199 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TE Connectivity by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker's stock worth $469,113,000 after purchasing an additional 223,842 shares during the last quarter. Cooke & Bieler LP increased its stake in shares of TE Connectivity by 3.3% in the second quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker's stock worth $263,832,000 after buying an additional 55,777 shares during the period. Canada Pension Plan Investment Board boosted its position in TE Connectivity by 13.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,434,642 shares of the electronics maker's stock valued at $215,813,000 after buying an additional 166,339 shares during the period. Finally, Waverton Investment Management Ltd grew its holdings in TE Connectivity by 8.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker's stock worth $213,089,000 after acquiring an additional 106,688 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on TEL shares. The Goldman Sachs Group lowered their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a research note on Tuesday, October 1st. StockNews.com started coverage on TE Connectivity in a research report on Sunday, November 24th. They set a "buy" rating for the company. Hsbc Global Res cut shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a report on Thursday, October 31st. Bank of America reduced their price target on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. Finally, HSBC downgraded TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 target price on the stock. in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $159.55.
View Our Latest Stock Report on TEL
TE Connectivity Stock Down 0.0 %
Shares of NYSE TEL traded down $0.03 during 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 12-month low of $128.52 and a 12-month high of $159.98. 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 business's 50-day moving average is $149.34 and its 200 day moving average is $149.71. The stock has a market cap of $45.21 billion, a PE ratio of 14.71, a P/E/G ratio of 2.05 and a beta of 1.33.
TE Connectivity (NYSE:TEL - Get Free Report) last announced 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. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. TE Connectivity's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. As a group, equities analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.
TE Connectivity announced that its board has approved a stock repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board 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.
Further Reading
Before you consider TE Connectivity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TE Connectivity wasn't on the list.
While TE Connectivity currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
