Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 13.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 322,696 shares of the electronics maker's stock after purchasing an additional 38,539 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.11% of TE Connectivity worth $48,724,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of TEL. Versant Capital Management Inc grew its position in shares of TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker's stock worth $28,000 after buying an additional 128 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of TE Connectivity in the 2nd quarter worth about $30,000. Armstrong Advisory Group Inc. raised its stake 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 valued at $34,000 after purchasing an additional 150 shares in the last quarter. Bank & Trust Co bought a new position in shares of TE Connectivity during the second quarter worth about $35,000. Finally, Wolff Wiese Magana LLC grew its stake in TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock worth $39,000 after purchasing an additional 245 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.
TE Connectivity Stock Performance
TE Connectivity stock traded down $0.03 during mid-day trading on Friday, hitting $151.12. 684,983 shares of the company's stock traded hands, compared to its average volume of 1,812,517. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98. The company has a market cap of $45.21 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 2.05 and a beta of 1.33. The firm has a 50 day moving average price of $149.34 and a 200 day moving average price of $149.71. 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 (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the firm posted $1.78 EPS. TE Connectivity's revenue was up .8% compared to the same quarter last year. On average, equities analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current year.
TE Connectivity announced that its board has authorized a share repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
TEL has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their target price on TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a report on Tuesday, October 1st. Hsbc Global Res cut TE Connectivity from a "hold" rating to a "moderate sell" rating in a research note on Thursday, October 31st. Wolfe Research upgraded shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. 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 report on Friday, September 20th. Finally, StockNews.com assumed coverage on shares of TE Connectivity in a research report on Sunday, November 24th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, TE Connectivity currently has an average rating of "Hold" and a consensus target price of $159.55.
Read Our Latest Stock Analysis 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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