TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Entropy Technologies LP

Entropy Technologies LP raised its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 16.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,295 shares of the electronics maker's stock after acquiring an additional 5,279 shares during the quarter. TE Connectivity comprises 0.6% of Entropy Technologies LP's holdings, making the stock its 22nd largest position. Entropy Technologies LP's holdings in TE Connectivity were worth $5,782,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TEL. Simplicity Wealth LLC lifted its holdings in shares of TE Connectivity by 2.7% during the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker's stock worth $377,000 after purchasing an additional 67 shares during the period. Silvercrest Asset Management Group LLC raised its position in shares of TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker's stock valued at $432,000 after buying an additional 68 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its position in TE Connectivity by 3.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker's stock worth $267,000 after purchasing an additional 69 shares during the period. Optas LLC grew its holdings in TE Connectivity by 4.2% in the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker's stock worth $268,000 after acquiring an additional 71 shares during the last quarter. Finally, Gradient Investments LLC lifted its position in TE Connectivity by 2.2% during the 2nd quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker's stock valued at $542,000 after acquiring an additional 76 shares during the period. 91.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Truist Financial increased their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the company a "hold" rating in a report on Thursday, July 25th. HSBC downgraded shares of TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target on the stock. in a research note on Thursday, October 31st. Hsbc Global Res downgraded shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. Finally, Vertical Research assumed coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They set a "hold" rating and a $155.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $159.55.

TE Connectivity Trading Down 1.1 %

TE Connectivity stock traded down $1.66 during mid-day trading on Tuesday, hitting $153.37. 1,533,244 shares of the company's stock were exchanged, compared to its average volume of 1,834,617. The firm has a market capitalization of $46.61 billion, a P/E ratio of 15.10, a PEG ratio of 2.11 and a beta of 1.33. The company's 50 day simple moving average is $148.04 and its 200-day simple moving average is $149.04. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a fifty-two week low of $124.95 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts' consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $4 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The company's revenue was up .8% on a year-over-year basis. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.

TE Connectivity announced that its board has approved a stock repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

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.