Barclays PLC trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 37.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 601,344 shares of the electronics maker's stock after selling 357,689 shares during the quarter. Barclays PLC owned 0.20% of TE Connectivity worth $90,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. State Street Corp raised its stake in shares of TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock worth $1,940,615,000 after purchasing an additional 268,837 shares during the last quarter. Ameriprise Financial Inc. raised 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 last quarter. EdgePoint Investment Group Inc. lifted its position in TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock valued at $508,481,000 after purchasing an additional 694,917 shares during the period. Dimensional Fund Advisors LP raised its position in TE Connectivity by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker's stock valued at $469,113,000 after acquiring an additional 223,842 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of TE Connectivity by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker's stock valued at $266,059,000 after purchasing an additional 9,864 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on TEL shares. The Goldman Sachs Group decreased their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a research report on Tuesday, October 1st. Wells Fargo & Company lowered their price target on 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. HSBC cut TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price objective for the company. in a research report on Thursday, October 31st. Bank of America decreased their target price on TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. Finally, StockNews.com raised shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $159.55.
Get Our Latest Stock Report on TE Connectivity
TE Connectivity Price Performance
TEL traded up $1.49 during trading on Thursday, reaching $151.32. The company's stock had a trading volume of 1,605,059 shares, compared to its average volume of 1,796,427. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $149.88 and a two-hundred day simple moving average of $149.76. The company has a market cap of $45.27 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 2.07 and a beta of 1.32. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.95. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company earned $1.78 EPS. As a group, analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current year.
TE Connectivity announced that its Board of Directors has initiated a share buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
TE Connectivity 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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