Tokio Marine Asset Management Co. Ltd. Acquires Shares of 7,659 TE Connectivity Ltd. (NYSE:TEL)

Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,659 shares of the electronics maker's stock, valued at approximately $1,156,000.

Several other hedge funds also recently modified their holdings of the business. State Board of Administration of Florida Retirement System increased its holdings in TE Connectivity by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 31,715 shares of the electronics maker's stock valued at $4,606,000 after purchasing an additional 1,100 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of TE Connectivity by 3.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker's stock worth $267,000 after buying an additional 69 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of TE Connectivity by 72.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker's stock valued at $46,537,000 after acquiring an additional 135,548 shares during the period. Catalytic Wealth RIA LLC boosted its stake in TE Connectivity by 38.6% during the 1st quarter. Catalytic Wealth RIA LLC now owns 2,656 shares of the electronics maker's stock worth $386,000 after acquiring an additional 740 shares during the last quarter. Finally, Rockport Wealth LLC acquired a new position in TE Connectivity during the first quarter valued at approximately $236,000. Institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Down 3.2 %

NYSE TEL traded down $4.90 during trading hours on Friday, hitting $148.35. 1,722,590 shares of the company traded hands, compared to its average volume of 1,829,200. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The business's 50-day moving average is $148.50 and its 200-day moving average is $149.24. The stock has a market capitalization of $44.38 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 2.10 and a beta of 1.33. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98.

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

TE Connectivity declared that its Board of Directors has authorized a stock buyback plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

TEL has been the subject of several research analyst reports. StockNews.com began coverage on shares of TE Connectivity in a report on Saturday. They issued a "buy" rating for the company. The Goldman Sachs Group lowered their price target on TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. Wolfe Research upgraded TE Connectivity from a "peer perform" rating to an "outperform" rating in a report on Thursday, September 5th. Truist Financial increased their target price on TE Connectivity from $151.00 to $156.00 and gave the stock a "hold" rating in a research note on Thursday, July 25th. Finally, HSBC cut shares of TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target for the company. in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average 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.