Nomura Asset Management Co. Ltd. Increases Position in TE Connectivity Ltd. (NYSE:TEL)

Nomura Asset Management Co. Ltd. raised its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 243,274 shares of the electronics maker's stock after purchasing an additional 9,670 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.08% of TE Connectivity worth $36,732,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC increased its holdings in TE Connectivity by 1,632.0% during the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker's stock valued at $989,000 after buying an additional 6,169 shares during the last quarter. Waverton Investment Management Ltd grew its position in shares of TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker's stock valued at $213,089,000 after acquiring an additional 106,688 shares during the period. Marshall Financial Group LLC purchased a new stake in shares of TE Connectivity in the 2nd quarter worth $995,000. Glenmede Trust Co. NA raised its holdings in TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker's stock worth $29,322,000 after purchasing an additional 23,755 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in TE Connectivity by 21.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker's stock valued at $10,471,000 after purchasing an additional 12,140 shares in the last quarter. Institutional investors own 91.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TEL. HSBC downgraded TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price objective on the stock. in a research note on Thursday, October 31st. Wolfe Research upgraded shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. Bank of America dropped their price target on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. The Goldman Sachs Group decreased their price objective on shares of 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, Wells Fargo & Company dropped their target price on shares of TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $159.55.

TE Connectivity Trading Down 0.8 %

Shares of NYSE:TEL traded down $1.16 during trading on Tuesday, reaching $150.34. The company's stock had a trading volume of 1,657,749 shares, compared to its average volume of 1,799,880. The firm's 50 day simple moving average is $149.76 and its two-hundred day simple moving average is $149.76. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. The stock has a market capitalization of $44.97 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 2.07 and a beta of 1.32.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its 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 business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. On average, research analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity announced that its board has approved a stock repurchase plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows 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 stock is undervalued.

TE Connectivity Company Profile

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.