BNP Paribas Financial Markets Grows Position in TE Connectivity Ltd. (NYSE:TEL)

BNP Paribas Financial Markets raised its position in TE Connectivity Ltd. (NYSE:TEL) by 28.4% during the third quarter, HoldingsChannel.com reports. The firm owned 549,781 shares of the electronics maker’s stock after buying an additional 121,554 shares during the quarter. BNP Paribas Financial Markets’ holdings in TE Connectivity were worth $83,011,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Silvercrest Asset Management Group LLC raised its holdings in shares of 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 buying an additional 68 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in shares of TE Connectivity by 18.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,665 shares of the electronics maker’s stock valued at $1,404,000 after buying an additional 1,481 shares during the period. Tidal Investments LLC increased its holdings in TE Connectivity by 17.4% during the 1st quarter. Tidal Investments LLC now owns 16,576 shares of the electronics maker’s stock worth $2,407,000 after purchasing an additional 2,452 shares during the last quarter. Swedbank AB purchased a new stake in TE Connectivity during the 1st quarter worth approximately $10,182,000. Finally, PGGM Investments increased its holdings in TE Connectivity by 0.7% during the 1st quarter. PGGM Investments now owns 75,733 shares of the electronics maker’s stock worth $10,999,000 after purchasing an additional 550 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Trading Up 0.8 %

NYSE:TEL opened at $151.13 on Thursday. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The firm has a market capitalization of $45.21 billion, a P/E ratio of 14.72, a P/E/G ratio of 2.07 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The business has a 50 day simple moving average of $149.24 and a 200 day simple moving average of $149.68.

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

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TEL shares. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a report on Thursday, October 31st. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Bank of America decreased their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $159.55.

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.