Orion Portfolio Solutions LLC Has $6.63 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Orion Portfolio Solutions LLC increased its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 49.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,940 shares of the electronics maker's stock after purchasing an additional 14,471 shares during the quarter. Orion Portfolio Solutions LLC's holdings in TE Connectivity were worth $6,634,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEL. Ameriprise Financial Inc. boosted its holdings in TE Connectivity by 26.2% during the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker's stock worth $944,791,000 after buying an additional 1,304,199 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock worth $508,481,000 after buying an additional 694,917 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in TE Connectivity by 238.4% during the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker's stock worth $108,212,000 after buying an additional 506,754 shares during the last quarter. Bank of Montreal Can boosted its holdings in TE Connectivity by 43.0% during the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker's stock worth $174,955,000 after buying an additional 347,315 shares during the last quarter. Finally, Toronto Dominion Bank boosted its holdings in TE Connectivity by 141.3% during the second quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker's stock worth $70,445,000 after buying an additional 274,206 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

TEL traded down $0.96 during trading hours on Monday, reaching $151.44. The company's stock had a trading volume of 1,901,096 shares, compared to its average volume of 1,800,480. TE Connectivity Ltd. has a 52 week low of $128.52 and a 52 week high of $159.98. The company's 50-day moving average is $149.76 and its 200-day moving average is $149.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The firm has a market cap of $45.30 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 2.07 and a beta of 1.32.

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 analysts' consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $4 billion. During the same quarter in the prior year, the business earned $1.78 EPS. The firm's revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current year.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Bank of America cut their price objective on TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. HSBC downgraded 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. Wolfe Research raised TE Connectivity from a "peer perform" rating to an "outperform" rating in a research report on Thursday, September 5th. Wells Fargo & Company reduced their price target on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, September 20th. Finally, The Goldman Sachs Group reduced their price target on TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, TE Connectivity has an average rating of "Hold" and a consensus price target of $159.55.

About TE Connectivity

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.