Assenagon Asset Management S.A. raised its position in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,368 shares of the electronics maker’s stock after purchasing an additional 157 shares during the quarter. Assenagon Asset Management S.A.’s holdings in TE Connectivity were worth $3,484,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of TEL. State Street Corp lifted its position in TE Connectivity by 2.1% in the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after buying an additional 268,837 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after acquiring an additional 1,304,199 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of TE Connectivity by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after acquiring an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after purchasing an additional 694,917 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. HSBC lowered 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. Bank of America decreased their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. The Goldman Sachs Group decreased their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Finally, StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.70.
TE Connectivity Stock Performance
NYSE:TEL opened at $148.23 on Wednesday. The firm’s 50-day moving average is $147.53 and its 200-day moving average is $148.77. The company has a market cap of $44.35 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.98 and a beta of 1.32. 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 Ltd. has a 52-week low of $133.00 and a 52-week high of $159.98.
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 firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate 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 allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
About TE Connectivity
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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