Rockefeller Capital Management L.P. Buys 12,994 Shares of TE Connectivity Ltd. (NYSE:TEL)

Rockefeller Capital Management L.P. grew its position in TE Connectivity Ltd. (NYSE:TEL) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,024,454 shares of the electronics maker’s stock after acquiring an additional 12,994 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.34% of TE Connectivity worth $154,682,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TEL. Ameriprise Financial Inc. raised its holdings in shares of 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 buying an additional 1,304,199 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of 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 purchasing an additional 223,842 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of TE Connectivity by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock valued at $266,059,000 after purchasing an additional 9,864 shares during the period. Cooke & Bieler LP grew its holdings in shares of TE Connectivity by 3.3% in the second quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker’s stock worth $263,832,000 after purchasing an additional 55,777 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in TE Connectivity by 13.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,434,642 shares of the electronics maker’s stock valued at $215,813,000 after buying an additional 166,339 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Trading Up 0.9 %

TEL stock opened at $151.15 on Friday. The business’s 50-day moving average is $149.28 and its 200 day moving average is $149.69. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The stock has a market cap of $45.22 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 2.05 and a beta of 1.33. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last announced its quarterly 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. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the company posted $1.78 EPS. The company’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TEL shares. StockNews.com initiated coverage on TE Connectivity in a research report on Sunday, November 24th. They set a “buy” rating on the stock. 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. Wells Fargo & Company cut their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. HSBC cut 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, The Goldman Sachs Group cut their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and a consensus 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.