Mizuho Securities USA LLC lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 16.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,708 shares of the electronics maker's stock after selling 3,907 shares during the quarter. Mizuho Securities USA LLC's holdings in TE Connectivity were worth $2,976,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of TE Connectivity by 209.8% during the 2nd 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 period. Olistico Wealth LLC acquired a new stake in shares of TE Connectivity during the 2nd quarter worth approximately $30,000. Armstrong Advisory Group Inc. raised its position in shares of TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock worth $34,000 after purchasing an additional 150 shares during the period. Bank & Trust Co acquired a new stake in shares of TE Connectivity during the 2nd quarter worth approximately $35,000. Finally, Wolff Wiese Magana LLC raised its position in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock worth $39,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on TEL. Bank of America decreased their price objective on TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. 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. Wells Fargo & Company decreased their price objective on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, September 20th. StockNews.com began coverage on TE Connectivity in a report on Saturday, November 16th. They issued a "buy" rating for the company. Finally, Hsbc Global Res lowered TE Connectivity from a "hold" rating to a "moderate sell" rating in a research note on Thursday, October 31st. One research 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $159.55.
View Our Latest Analysis on TEL
TE Connectivity Price Performance
Shares of TEL traded up $2.38 during trading hours on Friday, hitting $152.26. 1,715,477 shares of the company were exchanged, compared to its average volume of 1,533,659. The firm has a fifty day simple moving average of $148.96 and a 200-day simple moving average of $149.52. The company has a market capitalization of $45.55 billion, a PE ratio of 14.83, a PEG ratio of 2.04 and a beta of 1.33. TE Connectivity Ltd. has a one year low of $128.52 and a one year 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.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting the consensus estimate of $1.95. The firm 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%. TE Connectivity's quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 earnings per share. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.
TE Connectivity declared that its board has authorized a stock buyback plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are 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.
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