Kennebec Savings Bank purchased a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,749 shares of the electronics maker's stock, valued at approximately $566,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker's stock valued at $28,000 after acquiring an additional 128 shares in the last quarter. Olistico Wealth LLC purchased a new stake in shares of TE Connectivity in the 2nd quarter worth about $30,000. Armstrong Advisory Group Inc. lifted its position in TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock valued at $34,000 after acquiring an additional 150 shares during the period. Bank & Trust Co purchased a new stake in TE Connectivity in the second quarter worth about $35,000. Finally, Wolff Wiese Magana LLC increased its stake in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. Institutional investors own 91.43% of the company's stock.
TE Connectivity Price Performance
NYSE TEL traded up $0.02 during mid-day trading on Monday, hitting $155.08. The stock had a trading volume of 237,165 shares, compared to its average volume of 1,831,276. The company has a market cap of $47.13 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 2.11 and a beta of 1.33. TE Connectivity Ltd. has a 52-week low of $124.95 and a 52-week high of $159.98. The company has a 50 day simple moving average of $148.01 and a 200 day simple moving average of $148.93. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts' consensus estimates of $1.95. The business 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 business's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 earnings per share. Equities analysts forecast that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.
TE Connectivity announced that its board has initiated a stock buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.
Wall Street Analyst Weigh In
Several research firms recently issued reports on TEL. Wells Fargo & Company lowered their price objective on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating on the stock in a research report on Friday, September 20th. Wolfe Research raised shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a report on Thursday, September 5th. Hsbc Global Res lowered shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a report on Thursday, October 31st. The Goldman Sachs Group cut their price objective on TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research report on Tuesday, October 1st. Finally, Truist Financial increased their price target on TE Connectivity from $151.00 to $156.00 and gave the stock a "hold" rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given 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 price target of $159.55.
Check Out Our Latest Stock Analysis 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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