Mizuho Securities USA LLC increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 982.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,659 shares of the electronics maker's stock after buying an additional 232,044 shares during the period. Mizuho Securities USA LLC owned about 0.08% of TE Connectivity worth $38,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in shares of 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 purchasing an additional 128 shares during the period. Olistico Wealth LLC acquired a new stake in TE Connectivity in the 2nd quarter worth about $30,000. Armstrong Advisory Group Inc. boosted 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 during the last quarter. Bank & Trust Co acquired a new position in shares of TE Connectivity during the second quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC lifted its position in shares of 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 acquiring an additional 245 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.
TEL stock opened at $148.35 on Friday. The stock has a market cap of $44.38 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98. The business has a fifty day moving average of $148.50 and a two-hundred day moving average of $149.24. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27.
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 the consensus estimate 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 for the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the business posted $1.78 EPS. The business's revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.
TE Connectivity declared that its board has initiated a stock buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.
TEL has been the subject of several research reports. Hsbc Global Res cut TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. The Goldman Sachs Group dropped their target price 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. HSBC downgraded 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 note on Thursday, October 31st. Bank of America cut their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. Finally, StockNews.com started coverage on TE Connectivity in a report on Saturday. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $159.55.
View Our Latest Research Report on 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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