Point72 DIFC Ltd raised its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 346.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,251 shares of the electronics maker's stock after buying an additional 4,851 shares during the period. Point72 DIFC Ltd's holdings in TE Connectivity were worth $944,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in TEL. Ameriprise Financial Inc. raised 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 purchasing an additional 1,304,199 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of TE Connectivity by 238.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker's stock worth $108,212,000 after purchasing an additional 506,754 shares during the period. Bank of Montreal Can boosted its stake 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 valued at $174,955,000 after purchasing an additional 347,315 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of TE Connectivity by 141.3% during the 2nd quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker's stock valued at $70,445,000 after purchasing an additional 274,206 shares in the last quarter. Finally, Mizuho Securities USA LLC grew its holdings in shares of TE Connectivity by 982.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker's stock worth $38,602,000 after acquiring an additional 232,044 shares during the period. Institutional investors own 91.43% of the company's stock.
TE Connectivity Stock Performance
TEL stock traded up $0.01 during trading on Friday, reaching $152.44. The stock had a trading volume of 1,465,061 shares, compared to its average volume of 1,800,054. The firm has a market cap of $45.60 billion, a PE ratio of 14.84, a PEG ratio of 2.06 and a beta of 1.32. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The stock's 50 day moving average is $149.72 and its two-hundred day moving average is $149.78. TE Connectivity Ltd. has a 52 week low of $128.52 and a 52 week high of $159.98.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 EPS. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.
TE Connectivity announced that its Board of Directors has approved a share repurchase program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.
Analysts Set New Price Targets
A number of equities analysts have weighed in on TEL shares. Wolfe Research raised shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. HSBC lowered shares of TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price objective for the company. in a research note on Thursday, October 31st. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company decreased their price objective 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, Hsbc Global Res lowered TE Connectivity from a "hold" rating to a "moderate sell" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have issued 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, TE Connectivity has a consensus rating of "Hold" and an average target price of $159.55.
Get Our Latest Stock Report on TE Connectivity
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.
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