KBC Group NV increased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 53.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,617 shares of the electronics maker's stock after purchasing an additional 35,959 shares during the period. KBC Group NV's holdings in TE Connectivity were worth $15,495,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in TEL. Versant Capital Management Inc grew its holdings in shares of TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker's stock worth $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC bought a new position in TE Connectivity in the 2nd quarter worth about $30,000. Armstrong Advisory Group Inc. increased its position 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 worth $34,000 after acquiring an additional 150 shares during the period. Bank & Trust Co purchased a new stake in shares of TE Connectivity in the second quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC grew its stake 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 purchasing an additional 245 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
TEL has been the subject of a number of research reports. 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. Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Truist Financial lifted their target price on TE Connectivity from $151.00 to $156.00 and gave the company a "hold" rating in a research note on Thursday, July 25th. Vertical Research assumed coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a "hold" rating and a $155.00 price target on the stock. Finally, Bank of America reduced their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company 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 stock. Based on data from MarketBeat.com, TE Connectivity presently has a consensus rating of "Hold" and a consensus price target of $159.55.
View Our Latest Research Report on TEL
TE Connectivity Stock Down 3.2 %
Shares of NYSE TEL traded down $4.90 during midday trading on Friday, hitting $148.35. 1,722,590 shares of the company's stock were exchanged, compared to its average volume of 1,829,200. The firm's fifty day simple moving average is $148.50 and its 200-day simple moving average is $149.24. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The company has a market cap of $44.38 billion, a PE ratio of 14.44, a P/E/G ratio of 2.10 and a beta of 1.33.
TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting 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 return on equity of 18.48% and a net margin of 20.15%. The firm's revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 earnings per share. Research analysts predict that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.
TE Connectivity declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board 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.
See Also
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
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
