MassMutual Private Wealth & Trust FSB acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 39,309 shares of the electronics maker's stock, valued at approximately $5,620,000.
Several other hedge funds also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock valued at $1,940,615,000 after purchasing an additional 268,837 shares during the last quarter. Ameriprise Financial Inc. raised its holdings 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 buying an additional 1,304,199 shares during the period. Geode Capital Management LLC lifted its stake in TE Connectivity by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock valued at $899,681,000 after buying an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock worth $508,481,000 after buying an additional 694,917 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock worth $445,603,000 after acquiring an additional 712,228 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.
TE Connectivity Stock Performance
Shares of NYSE:TEL traded up $2.60 during midday trading on Monday, hitting $146.29. The company's stock had a trading volume of 4,102,611 shares, compared to its average volume of 1,308,175. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The stock's 50 day simple moving average is $147.70 and its 200 day simple moving average is $148.78. The stock has a market capitalization of $43.76 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.91 and a beta of 1.32. TE Connectivity Ltd. has a fifty-two week low of $128.91 and a fifty-two week high of $159.98.
TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the firm posted $1.78 EPS. The company's revenue was up .8% on a year-over-year basis. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.
TE Connectivity declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on TEL shares. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating for the company in a research report on Monday, December 16th. Bank of America decreased their price target 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. Hsbc Global Res cut shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a report on Thursday, October 31st. HSBC lowered TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price objective for the company. in a report on Thursday, October 31st. Finally, StockNews.com raised TE Connectivity from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $160.70.
View Our Latest Research Report on TEL
About TE Connectivity
(
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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