The Manufacturers Life Insurance Company Has $50.75 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

The Manufacturers Life Insurance Company boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,096 shares of the electronics maker's stock after acquiring an additional 8,360 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of TE Connectivity worth $50,747,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TEL. Private Trust Co. NA lifted its stake in TE Connectivity by 11.7% in the 3rd quarter. Private Trust Co. NA now owns 1,418 shares of the electronics maker's stock valued at $214,000 after purchasing an additional 148 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of TE Connectivity in the third quarter valued at approximately $145,000. Brown Brothers Harriman & Co. boosted its stake in shares of TE Connectivity by 3.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,219 shares of the electronics maker's stock worth $927,000 after acquiring an additional 184 shares during the period. Independent Advisor Alliance increased its holdings in shares of TE Connectivity by 48.9% during the 3rd quarter. Independent Advisor Alliance now owns 7,889 shares of the electronics maker's stock worth $1,191,000 after acquiring an additional 2,592 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in TE Connectivity by 5.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 47,874 shares of the electronics maker's stock valued at $7,229,000 after acquiring an additional 2,649 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Upgrades and Downgrades

TEL has been the topic of several research reports. The Goldman Sachs Group decreased their price objective 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. Bank of America decreased their price target on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, September 20th. Wolfe Research upgraded TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. Finally, HSBC downgraded TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target for the company. in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, TE Connectivity has a consensus rating of "Hold" and a consensus target price of $159.55.

TE Connectivity Price Performance

TEL traded down $0.03 on Friday, hitting $151.12. 684,978 shares of the stock were exchanged, compared to its average volume of 1,812,517. The firm has a market capitalization of $45.21 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 2.05 and a beta of 1.33. 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 Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. The business has a 50-day moving average of $149.28 and a two-hundred day moving average of $149.69.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the business posted $1.78 EPS. The firm's revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are 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.