Salvus Wealth Management LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,054 shares of the electronics maker's stock, valued at approximately $580,000.
Several other hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. raised its stake in TE Connectivity by 26.2% in 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 in the last quarter. Nordea Investment Management AB purchased a new position in shares of TE Connectivity in the 4th quarter valued at $149,211,000. Franklin Resources Inc. raised its position in shares of TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock worth $445,603,000 after acquiring an additional 712,228 shares in the last quarter. EdgePoint Investment Group Inc. lifted its stake in shares of TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock worth $508,481,000 after purchasing an additional 694,917 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position 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 valued at $108,212,000 after purchasing an additional 506,754 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have commented on TEL shares. Wells Fargo & Company reduced their target price on shares of TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating for the company in a report on Monday, December 16th. The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a research note on Tuesday, October 1st. StockNews.com upgraded shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 18th. HSBC downgraded TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. Finally, Bank of America lowered their price objective on TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $160.70.
Get Our Latest Stock Analysis on TEL
TE Connectivity Stock Performance
Shares of TEL stock traded up $2.60 during mid-day trading on Friday, reaching $146.29. The stock had a trading volume of 4,102,611 shares, compared to its average volume of 1,694,428. 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 1-year low of $128.91 and a 1-year high of $159.98. The firm has a market cap of $43.76 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.91 and a beta of 1.32. The business's fifty day moving average is $147.88 and its 200-day moving average is $148.81.
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 (EPS) for the quarter, hitting analysts' consensus estimates of $1.95. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. TE Connectivity's revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $1.78 EPS. On average, research analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.
TE Connectivity announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.
TE Connectivity Company Profile
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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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