Nordea Investment Management AB acquired a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,036,260 shares of the electronics maker's stock, valued at approximately $149,211,000. Nordea Investment Management AB owned 0.35% of TE Connectivity at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of TEL. Armstrong Advisory Group Inc. increased its position in shares of TE Connectivity by 208.3% in the third 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 last quarter. 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 valued at $39,000 after buying an additional 245 shares in the last quarter. Vestor Capital LLC bought a new stake in shares of TE Connectivity during the 3rd quarter worth $66,000. Ashton Thomas Securities LLC purchased a new position in TE Connectivity in the third quarter worth $75,000. Finally, Quarry LP bought a new position in TE Connectivity in the second quarter valued at $108,000. Hedge funds and other institutional investors own 91.43% of the company's stock.
TE Connectivity Trading Up 0.1 %
Shares of TE Connectivity stock traded up $0.17 during midday trading on Tuesday, reaching $143.61. 1,390,801 shares of the company's stock traded hands, compared to its average volume of 1,282,825. The stock has a 50 day moving average of $149.06 and a 200-day moving average of $149.13. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. The company has a market cap of $42.96 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate 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 analysts' expectations of $4 billion. During the same period last year, the company posted $1.78 EPS. The company's quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.
TE Connectivity announced that its board has authorized a share buyback program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on TEL. Hsbc Global Res cut TE Connectivity from a "hold" rating to a "moderate sell" rating in a report on Thursday, October 31st. Bank of America cut their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. HSBC lowered shares of TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target for the company. in a research report on Thursday, October 31st. Wells Fargo & Company decreased their price objective on TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating on the stock in a report on Monday, December 16th. Finally, The Goldman Sachs Group dropped their target price on TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. 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 given a strong buy rating to the company. Based on data from MarketBeat.com, TE Connectivity has an average rating of "Moderate Buy" and an average price target of $160.70.
Check Out Our Latest Research Report on TEL
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.
See Also
Before you consider TE Connectivity, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TE Connectivity wasn't on the list.
While TE Connectivity currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
