Waverton Investment Management Ltd boosted its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 8.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,411,048 shares of the electronics maker's stock after purchasing an additional 106,688 shares during the quarter. TE Connectivity comprises approximately 3.5% of Waverton Investment Management Ltd's portfolio, making the stock its 11th biggest position. Waverton Investment Management Ltd owned approximately 0.46% of TE Connectivity worth $213,089,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker's stock valued at $28,000 after buying an additional 128 shares during the last quarter. Olistico Wealth LLC purchased a new stake in TE Connectivity in the second quarter valued at approximately $30,000. Armstrong Advisory Group Inc. lifted its stake in TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock valued at $34,000 after buying an additional 150 shares during the last quarter. Bank & Trust Co purchased a new stake in TE Connectivity in the second quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC lifted its stake in TE Connectivity by 2,450.0% in the third 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 during the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. HSBC cut 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. The Goldman Sachs Group dropped their price objective on 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 dropped 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. Wells Fargo & Company dropped their price objective on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, September 20th. Finally, Vertical Research assumed coverage on TE Connectivity in a report on Tuesday, July 23rd. They set a "hold" rating and a $155.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, TE Connectivity has an average rating of "Hold" and a consensus price target of $159.55.
Check Out Our Latest Research Report on TEL
TE Connectivity Trading Down 1.1 %
Shares of NYSE TEL traded down $1.66 during midday trading on Tuesday, hitting $153.37. The stock had a trading volume of 1,533,244 shares, compared to its average volume of 1,834,617. The company has a market capitalization of $46.61 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 2.11 and a beta of 1.33. TE Connectivity Ltd. has a 1-year low of $124.95 and a 1-year high of $159.98. 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 company has a fifty day moving average price of $148.04 and a 200 day moving average price of $149.04.
TE Connectivity (NYSE:TEL - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting the consensus estimate 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 return on equity of 18.48% and a net margin of 20.15%. The company's revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 EPS. On average, analysts predict that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.
TE Connectivity declared that its board has approved a stock repurchase program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.
About TE Connectivity
(
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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