TE Connectivity Ltd. (NYSE:TEL) Stock Holdings Decreased by Impax Asset Management Group plc

Impax Asset Management Group plc decreased its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,476,940 shares of the electronics maker's stock after selling 8,074 shares during the quarter. TE Connectivity comprises approximately 2.1% of Impax Asset Management Group plc's portfolio, making the stock its 6th biggest position. Impax Asset Management Group plc owned 1.14% of TE Connectivity worth $524,220,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in TEL. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $2,265,218,000 after purchasing an additional 5,526,230 shares in the last quarter. Ameriprise Financial Inc. boosted its position 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 valued at $944,791,000 after acquiring an additional 1,304,199 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of TE Connectivity by 238.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker's stock worth $108,212,000 after acquiring an additional 506,754 shares during the period. Bank of Montreal Can grew its holdings in shares of TE Connectivity by 43.0% during the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker's stock worth $174,955,000 after acquiring an additional 347,315 shares during the period. Finally, Toronto Dominion Bank raised its position in shares of TE Connectivity by 141.3% in the 2nd quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker's stock worth $70,445,000 after acquiring an additional 274,206 shares in the last quarter. Institutional investors own 91.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TEL. Hsbc Global Res cut TE Connectivity from a "hold" rating to a "moderate sell" rating in a research note on Thursday. Vertical Research initiated coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They set a "hold" rating and a $155.00 price target for the company. Wolfe Research upgraded shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a report on Thursday, September 5th. Wells Fargo & Company lowered 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. Finally, Truist Financial upped their price target on TE Connectivity from $151.00 to $156.00 and gave the stock a "hold" rating in a research note on Thursday, July 25th. One investment 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $159.55.

TE Connectivity Stock Performance

TEL stock traded up $0.08 on Monday, hitting $150.10. The company had a trading volume of 1,131,159 shares, compared to its average volume of 1,844,456. The stock has a market cap of $45.62 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 2.00 and a beta of 1.33. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The stock's 50-day simple moving average is $147.94 and its 200 day simple moving average is $148.54. TE Connectivity Ltd. has a 12-month low of $123.79 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts' consensus estimates of $1.95. The company had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 earnings per share. As a group, equities research analysts expect that TE Connectivity Ltd. will post 8.16 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are 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.