TE Connectivity Ltd. (NYSE:TEL) Position Increased by Swedbank AB

Swedbank AB increased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 70,792 shares of the electronics maker’s stock after buying an additional 684 shares during the period. Swedbank AB’s holdings in TE Connectivity were worth $10,689,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TEL. Simplicity Wealth LLC boosted its stake in TE Connectivity by 2.7% in the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after acquiring an additional 67 shares during the period. Silvercrest Asset Management Group LLC boosted its position in TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after purchasing an additional 68 shares during the period. Optas LLC increased its position in TE Connectivity by 4.2% in the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after buying an additional 71 shares during the period. Gradient Investments LLC lifted its stake in TE Connectivity by 2.2% in the second quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker’s stock valued at $542,000 after buying an additional 76 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in shares of TE Connectivity by 3.4% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,297 shares of the electronics maker’s stock valued at $346,000 after acquiring an additional 76 shares during the period. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TEL shares. Bank of America dropped their price objective on shares of 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 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. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a report on Thursday, October 31st. Finally, Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. One equities 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $149.84 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $149.14 and a two-hundred day moving average of $149.67. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The company has a market capitalization of $44.83 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.07 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted 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. The firm’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. As a group, analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity declared that its board has authorized a share buyback plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership 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.