Commerce Bank increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 28.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,517 shares of the electronics maker’s stock after acquiring an additional 1,230 shares during the period. Commerce Bank’s holdings in TE Connectivity were worth $757,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in TE Connectivity by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 27,358,318 shares of the electronics maker’s stock worth $3,699,118,000 after acquiring an additional 84,230 shares in the last quarter. Bank of America Corp DE raised its position in TE Connectivity by 14.3% in the 2nd quarter. Bank of America Corp DE now owns 4,954,983 shares of the electronics maker’s stock valued at $669,965,000 after purchasing an additional 619,188 shares in the last quarter. Geode Capital Management LLC raised its position in TE Connectivity by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 4,700,887 shares of the electronics maker’s stock valued at $633,459,000 after purchasing an additional 121,488 shares in the last quarter. Boston Partners raised its position in TE Connectivity by 4.0% in the 3rd quarter. Boston Partners now owns 3,574,350 shares of the electronics maker’s stock valued at $490,553,000 after purchasing an additional 136,105 shares in the last quarter. Finally, Deutsche Bank AG raised its position in TE Connectivity by 2.3% in the 3rd quarter. Deutsche Bank AG now owns 3,172,499 shares of the electronics maker’s stock valued at $435,331,000 after purchasing an additional 71,253 shares in the last quarter. 89.94% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have issued reports on TEL. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating and increased their price target for the company from $148.00 to $190.00 in a research report on Tuesday, November 9th. Evercore ISI raised TE Connectivity from an “in-line” rating to an “outperform” rating and increased their price target for the company from $160.00 to $180.00 in a research report on Wednesday, October 20th. Morgan Stanley increased their price target on TE Connectivity from $149.00 to $162.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 15th. Finally, The Goldman Sachs Group increased their price objective on TE Connectivity from $170.00 to $190.00 and gave the company a “buy” rating in a report on Monday, January 10th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, TE Connectivity currently has an average rating of “Buy” and an average target price of $158.44.
Shares of TEL stock opened at $160.74 on Friday. The business’s 50 day moving average is $159.92 and its two-hundred day moving average is $150.10. TE Connectivity Ltd. has a twelve month low of $116.87 and a twelve month high of $166.44. The company has a market capitalization of $52.45 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 2.20 and a beta of 1.33. The company has a current ratio of 1.56, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34.
TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, October 27th. The electronics maker reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.05. TE Connectivity had a return on equity of 21.58% and a net margin of 15.15%. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the business posted $1.16 EPS. The company’s revenue was up 17.1% on a year-over-year basis. As a group, equities analysts predict that TE Connectivity Ltd. will post 7.02 earnings per share for the current fiscal year.
About TE Connectivity
TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.
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