Weiss Asset Management LP bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 17,238 shares of the electronics maker's stock, valued at approximately $2,603,000.
A number of other large investors also recently bought and sold shares of TEL. Armstrong Advisory Group Inc. lifted its holdings in TE Connectivity by 208.3% during 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 during the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock worth $39,000 after purchasing an additional 245 shares during the last quarter. Family Firm Inc. bought a new stake in shares of TE Connectivity in the 2nd quarter worth approximately $43,000. Isthmus Partners LLC bought a new stake in shares of TE Connectivity in the 2nd quarter worth approximately $45,000. Finally, MCF Advisors LLC lifted its holdings in shares of TE Connectivity by 2,745.5% in the 2nd quarter. MCF Advisors LLC now owns 313 shares of the electronics maker's stock worth $47,000 after purchasing an additional 302 shares during the last quarter. Institutional investors own 91.43% of the company's stock.
TE Connectivity Price Performance
Shares of TEL stock traded down $0.03 during mid-day trading on Friday, hitting $152.40. 1,465,061 shares of the stock traded hands, compared to its average volume of 1,286,881. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The firm has a market cap of $45.59 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.08 and a beta of 1.32. The company's 50-day simple moving average is $149.75 and its 200-day simple moving average is $149.77. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.
TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (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 for the quarter, compared to analysts' expectations of $4 billion. During the same period last year, the firm earned $1.78 EPS. The firm's revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research 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 buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.
Analysts Set New Price Targets
Several brokerages recently issued reports on TEL. The Goldman Sachs Group cut their price target on TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company cut their price target 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. Bank of America lowered their target price on TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a research report on Wednesday, October 9th. Hsbc Global Res cut TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. Finally, HSBC cut TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity presently has an average rating of "Hold" and an average price target of $159.55.
Check Out Our Latest Stock Analysis on TEL
TE Connectivity Company 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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