Mizuho Securities USA LLC boosted its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 982.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 255,659 shares of the electronics maker's stock after buying an additional 232,044 shares during the period. Mizuho Securities USA LLC owned approximately 0.08% of TE Connectivity worth $38,602,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of TE Connectivity by 54.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker's stock worth $2,265,218,000 after purchasing an additional 5,526,230 shares in the last quarter. Ameriprise Financial Inc. grew its stake in TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker's stock valued at $944,791,000 after acquiring an additional 1,304,199 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of TE Connectivity by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker's stock valued at $469,113,000 after acquiring an additional 223,842 shares in the last quarter. Cooke & Bieler LP raised its position in shares of TE Connectivity by 3.3% during the second quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker's stock worth $263,832,000 after purchasing an additional 55,777 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of TE Connectivity by 13.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,434,642 shares of the electronics maker's stock worth $215,813,000 after purchasing an additional 166,339 shares in the last quarter. Institutional investors own 91.43% of the company's stock.
TE Connectivity Stock Performance
Shares of NYSE TEL traded down $4.90 during trading on Friday, reaching $148.35. 1,722,590 shares of the stock traded hands, compared to its average volume of 1,829,200. The company has a 50-day moving average of $148.50 and a 200-day moving average of $149.24. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98. The stock has a market capitalization of $44.38 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts' consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the business earned $1.78 earnings per share. The company's quarterly revenue was up .8% on a year-over-year basis. 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 repurchase program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
TEL has been the subject of several recent research reports. StockNews.com began coverage on shares of TE Connectivity in a research report on Saturday. They set a "buy" rating for the company. Wolfe Research upgraded TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. Truist Financial increased their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the company a "hold" rating in a report on Thursday, July 25th. Robert W. Baird upped their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Finally, Vertical Research started coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a "hold" rating and a $155.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $159.55.
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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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