Venturi Wealth Management LLC raised its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1,632.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 6,547 shares of the electronics maker's stock after purchasing an additional 6,169 shares during the period. Venturi Wealth Management LLC's holdings in TE Connectivity were worth $989,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC purchased a new position in TE Connectivity during the second quarter valued at $30,000. Armstrong Advisory Group Inc. increased its holdings in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock worth $34,000 after buying an additional 150 shares in the last quarter. Bank & Trust Co bought a new stake in shares of TE Connectivity during the 2nd quarter valued at about $35,000. Finally, Wolff Wiese Magana LLC lifted its position in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock valued at $39,000 after buying an additional 245 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.
Analyst Ratings Changes
TEL has been the topic of several analyst reports. Truist Financial boosted their target price on TE Connectivity from $151.00 to $156.00 and gave the company a "hold" rating in a research report on Thursday, July 25th. The Goldman Sachs Group lowered their price target on TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research report on Tuesday, October 1st. Vertical Research initiated coverage on TE Connectivity in a research report on Tuesday, July 23rd. They set a "hold" rating and a $155.00 price objective on the stock. Bank of America cut their price objective on TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their target price on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $159.55.
View Our Latest Analysis on TE Connectivity
TE Connectivity Stock Down 1.1 %
NYSE:TEL traded down $1.66 during trading hours on Tuesday, reaching $153.37. The company's stock had a trading volume of 1,533,247 shares, compared to its average volume of 1,834,617. 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 one year low of $124.95 and a one year high of $159.98. The business's 50-day moving average is $148.04 and its 200-day moving average is $149.04. The company has a market cap of $46.61 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.33.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts' consensus estimates of $1.95. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business posted $1.78 earnings per share. Equities research analysts predict that TE Connectivity Ltd. will post 8.13 EPS for the current 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 shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management 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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