Asset Management One Co. Ltd. grew its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,022 shares of the electronics maker's stock after purchasing an additional 4,646 shares during the period. Asset Management One Co. Ltd.'s holdings in TE Connectivity were worth $21,897,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TEL. Versant Capital Management Inc increased its position in shares of TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC purchased a new stake in shares of TE Connectivity in the second quarter valued at $30,000. Armstrong Advisory Group Inc. lifted its holdings in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Bank & Trust Co purchased a new position in shares of TE Connectivity during the 2nd quarter worth about $35,000. Finally, Wolff Wiese Magana LLC grew its holdings in 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 purchasing an additional 245 shares during the last quarter. 91.43% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Wolfe Research raised TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Thursday, October 31st. They set a "buy" rating for the company. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating on the stock in a research note on Friday, September 20th. Vertical Research initiated coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They set a "hold" rating and a $155.00 price target for the company. Finally, Bank of America cut their target price on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $159.55.
Get Our Latest Research Report on TE Connectivity
TE Connectivity Price Performance
TEL stock traded up $6.41 during midday trading on Wednesday, reaching $155.55. The stock had a trading volume of 951,256 shares, compared to its average volume of 1,838,564. TE Connectivity Ltd. has a 52-week low of $123.79 and a 52-week high of $159.98. 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 company's fifty day simple moving average is $147.83 and its 200 day simple moving average is $148.67. The company has a market cap of $47.27 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. The firm 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%. The business's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 earnings per share. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.
TE Connectivity announced that its board has authorized a stock buyback plan 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 plans are often a sign that the company's board believes its shares are undervalued.
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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