Rockefeller Capital Management L.P. Grows Holdings in TE Connectivity Ltd. (NYSE:TEL)

Rockefeller Capital Management L.P. increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,024,454 shares of the electronics maker’s stock after purchasing an additional 12,994 shares during the period. Rockefeller Capital Management L.P.’s holdings in TE Connectivity were worth $154,682,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its position in TE Connectivity by 26.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after acquiring an additional 1,304,199 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in TE Connectivity by 7.7% during the 2nd 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 period. Charles Schwab Investment Management Inc. lifted its holdings in TE Connectivity by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock worth $266,059,000 after buying an additional 9,864 shares in the last quarter. Cooke & Bieler LP boosted its position in TE Connectivity by 3.3% in the 2nd 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 during the period. Finally, Canada Pension Plan Investment Board grew its stake 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 acquiring an additional 166,339 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $151.15 on Friday. 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 $45.22 billion, a P/E ratio of 14.72, a P/E/G ratio of 2.05 and a beta of 1.33. The stock has a 50 day moving average of $149.28 and a two-hundred day moving average of $149.69. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. TE Connectivity’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 EPS. On average, research analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has authorized a stock repurchase 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 purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. StockNews.com initiated coverage on TE Connectivity in a research note on Sunday, November 24th. They issued a “buy” rating on the stock. The Goldman Sachs Group lowered their price objective 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. Wells Fargo & Company reduced their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a report on Thursday, October 31st. Finally, Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. One 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.