Oppenheimer Asset Management Inc. Has $10.47 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Oppenheimer Asset Management Inc. boosted its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 21.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 69,349 shares of the electronics maker's stock after buying an additional 12,140 shares during the period. Oppenheimer Asset Management Inc.'s holdings in TE Connectivity were worth $10,471,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in TE Connectivity by 54.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker's stock worth $2,265,218,000 after acquiring an additional 5,526,230 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of 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 purchasing an additional 1,304,199 shares during the period. Point72 Asset Management L.P. raised its position in shares of TE Connectivity by 238.4% in 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 buying an additional 506,754 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of TE Connectivity by 43.0% in the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker's stock valued at $174,955,000 after buying an additional 347,315 shares during the period. Finally, Toronto Dominion Bank grew its position 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 in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Down 1.0 %

NYSE:TEL traded down $1.48 during mid-day trading on Thursday, hitting $153.26. 1,151,624 shares of the company's stock were exchanged, compared to its average volume of 1,829,493. 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 fifty-two week low of $128.52 and a fifty-two week high of $159.98. The company has a 50 day simple moving average of $148.28 and a 200-day simple moving average of $149.17. The firm has a market capitalization of $46.58 billion, a P/E ratio of 14.92, a PEG ratio of 2.09 and a beta of 1.33.

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 company 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%. TE Connectivity's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 earnings per share. As a group, research analysts expect that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.

TE Connectivity announced that its board has approved a share buyback 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 repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Vertical Research assumed coverage on TE Connectivity in a research report on Tuesday, July 23rd. They set a "hold" rating and a $155.00 target price for the company. StockNews.com started coverage on shares of TE Connectivity in a research report on Friday, November 8th. They set a "buy" rating for the company. The Goldman Sachs Group decreased their target price 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. Truist Financial upped their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a "hold" rating in a report on Thursday, July 25th. Finally, Hsbc Global Res cut shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $159.55.

TE Connectivity Profile

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.