Los Angeles Capital Management LLC Increases Stake in TE Connectivity Ltd. (NYSE:TEL)

Los Angeles Capital Management LLC raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,848 shares of the electronics maker's stock after buying an additional 22,370 shares during the quarter. Los Angeles Capital Management LLC owned about 0.09% of TE Connectivity worth $41,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of recent research reports. The Goldman Sachs Group cut their target price on shares of TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. Robert W. Baird raised their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. Wolfe Research raised shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a report on Thursday, September 5th. Vertical Research assumed coverage on TE Connectivity in a research report on Tuesday, July 23rd. They issued a "hold" rating and a $155.00 price target for the company. Finally, Truist Financial raised their price target on TE Connectivity from $151.00 to $156.00 and gave the stock a "hold" rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $159.55.

TE Connectivity Trading Down 0.0 %

Shares of NYSE:TEL traded down $0.03 on Monday, hitting $155.03. 1,214,198 shares of the company's stock were exchanged, compared to its average volume of 1,835,769. TE Connectivity Ltd. has a 12 month low of $124.95 and a 12 month high of $159.98. The stock has a market capitalization of $47.12 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.33. The business's 50 day simple moving average is $148.01 and its two-hundred day simple moving average is $148.93. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the company earned $1.78 earnings per share. The business's revenue for the quarter was up .8% compared to the same quarter last year. Analysts anticipate that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

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.