TE Connectivity Ltd. (NYSE:TEL) Shares Bought by MML Investors Services LLC

MML Investors Services LLC raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 11.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,722 shares of the electronics maker’s stock after acquiring an additional 2,276 shares during the quarter. MML Investors Services LLC’s holdings in TE Connectivity were worth $3,431,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Orion Portfolio Solutions LLC raised its stake in shares of TE Connectivity by 49.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 43,940 shares of the electronics maker’s stock worth $6,634,000 after buying an additional 14,471 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of TE Connectivity during the 3rd quarter worth approximately $278,000. EdgePoint Investment Group Inc. raised its stake in shares of TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after buying an additional 694,917 shares during the period. Insigneo Advisory Services LLC raised its stake in shares of TE Connectivity by 2.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock worth $684,000 after buying an additional 108 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its stake in shares of TE Connectivity by 57.4% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 13,332 shares of the electronics maker’s stock worth $2,013,000 after buying an additional 4,862 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TEL. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research note on Thursday, October 31st. Wells Fargo & Company dropped their price target 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. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group dropped their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Stock Down 0.8 %

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

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) 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 analysts’ expectations of $4 billion. During the same period in the prior year, the business earned $1.78 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, research analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

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

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.