Tidal Investments LLC Raises Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Tidal Investments LLC boosted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 24.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,128 shares of the electronics maker’s stock after purchasing an additional 4,359 shares during the period. Tidal Investments LLC’s holdings in TE Connectivity were worth $3,341,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Optas LLC boosted its holdings in shares of TE Connectivity by 4.2% in the 3rd 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 last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in TE Connectivity by 3.4% in 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 last quarter. OLD National Bancorp IN grew its position in shares of TE Connectivity by 3.6% during the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock valued at $374,000 after acquiring an additional 85 shares during the period. Metis Global Partners LLC raised its holdings in shares of TE Connectivity by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock worth $1,475,000 after purchasing an additional 96 shares during the period. Finally, Insigneo Advisory Services LLC lifted its stake in TE Connectivity by 2.4% in the third quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock valued at $684,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of recent research reports. Wells Fargo & Company decreased their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Bank of America cut 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 lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Price Performance

NYSE:TEL opened at $150.09 on Friday. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The firm has a market capitalization of $44.90 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 2.04 and a beta of 1.32. The stock has a fifty day moving average of $150.10 and a 200 day moving average of $149.76.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.95. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. On average, research analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

TE Connectivity Profile

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.