Daiwa Securities Group Inc. Boosts Stake in TE Connectivity Ltd. (NYSE:TEL)

Daiwa Securities Group Inc. grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,874 shares of the electronics maker’s stock after purchasing an additional 2,649 shares during the quarter. Daiwa Securities Group Inc.’s holdings in TE Connectivity were worth $7,229,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TEL. Versant Capital Management Inc lifted its stake in shares of TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares during the period. Olistico Wealth LLC purchased a new position in shares of TE Connectivity during the 2nd quarter worth $30,000. Armstrong Advisory Group Inc. lifted its stake in shares of TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the period. Bank & Trust Co purchased a new position in shares of TE Connectivity during the 2nd quarter worth $35,000. Finally, Wolff Wiese Magana LLC lifted its stake in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 0.3 %

Shares of TE Connectivity stock opened at $152.67 on Tuesday. The business has a 50-day moving average of $149.10 and a 200-day moving average of $149.64. 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 company has a market capitalization of $45.67 billion, a PE ratio of 14.87, a P/E/G ratio of 2.07 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 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 return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the firm earned $1.78 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

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

Analyst Ratings Changes

TEL has been the subject of a number of research analyst reports. 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 for the company. in a report on Thursday, October 31st. The Goldman Sachs Group dropped their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Finally, StockNews.com initiated coverage on TE Connectivity in a report on Sunday. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.