TE Connectivity Ltd. (NYSE:TEL) Stock Position Raised by Assetmark Inc.

Assetmark Inc. lifted its position in TE Connectivity Ltd. (NYSE:TEL) by 11.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,266 shares of the electronics maker’s stock after buying an additional 241 shares during the quarter. Assetmark Inc.’s holdings in TE Connectivity were worth $342,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of TE Connectivity by 54.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after purchasing an additional 5,526,230 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in 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 purchasing an additional 1,304,199 shares in the last quarter. Dimensional Fund Advisors LP increased its position in TE Connectivity by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock worth $469,113,000 after buying an additional 223,842 shares during the last quarter. Cooke & Bieler LP raised its holdings in TE Connectivity by 3.3% during the second quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker’s stock valued at $263,832,000 after buying an additional 55,777 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of TE Connectivity by 13.1% in the second quarter. Canada Pension Plan Investment Board now owns 1,434,642 shares of the electronics maker’s stock worth $215,813,000 after buying an additional 166,339 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Bank of America lowered their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research report on Thursday, October 31st. Finally, Truist Financial lifted their price objective on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, TE Connectivity has a consensus rating of “Hold” and an average target price of $159.55.

TE Connectivity Stock Performance

TEL opened at $148.35 on Friday. The stock’s 50 day simple moving average is $148.50 and its 200-day simple moving average is $149.24. 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 stock has a market cap of $44.38 billion, a PE ratio of 14.44, a P/E/G ratio of 2.10 and a beta of 1.33. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the prior year, the company posted $1.78 EPS. The business’s revenue was up .8% on a year-over-year basis. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.13 EPS for the current year.

TE Connectivity announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

TE Connectivity Company 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.