Two Sigma Advisers LP Has $16.23 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Two Sigma Advisers LP boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 28.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,500 shares of the electronics maker's stock after purchasing an additional 23,500 shares during the period. Two Sigma Advisers LP's holdings in TE Connectivity were worth $16,231,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in TE Connectivity by 2.1% during 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. SYM FINANCIAL Corp lifted its position in TE Connectivity by 24.1% during the 3rd quarter. SYM FINANCIAL Corp now owns 1,965 shares of the electronics maker's stock worth $297,000 after buying an additional 381 shares in the last quarter. SageView Advisory Group LLC boosted its stake in shares of TE Connectivity by 151.8% during the 3rd quarter. SageView Advisory Group LLC now owns 4,563 shares of the electronics maker's stock worth $689,000 after buying an additional 2,751 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of TE Connectivity by 25.4% in the 3rd quarter. Quantinno Capital Management LP now owns 22,382 shares of the electronics maker's stock valued at $3,379,000 after acquiring an additional 4,531 shares in the last quarter. Finally, Quarry LP increased its position in shares of TE Connectivity by 368.6% in the third quarter. Quarry LP now owns 3,374 shares of the electronics maker's stock valued at $509,000 after acquiring an additional 2,654 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wolfe Research upgraded TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. The Goldman Sachs Group decreased their target price on shares of TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a research note on Tuesday, October 1st. HSBC lowered shares of TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. Wells Fargo & Company lowered their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating on the stock in a research note on Friday, September 20th. Finally, Bank of America dropped their target price on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $159.55.

TE Connectivity Stock Performance

Shares of TEL traded down $0.96 during midday trading on Monday, reaching $151.44. 1,901,096 shares of the stock were exchanged, compared to its average volume of 1,800,480. 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 stock's 50 day simple moving average is $149.76 and its 200 day simple moving average is $149.76. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The company has a market cap of $45.30 billion, a P/E ratio of 14.75, a PEG ratio of 2.07 and a beta of 1.32.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $4 billion. During the same quarter in the previous year, the firm posted $1.78 EPS. The business's revenue for the quarter was up .8% compared to the same quarter last year. On average, sell-side analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

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

TE Connectivity Company 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.