Versor Investments LP Has $393,000 Position in TE Connectivity Ltd. (NYSE:TEL)

Versor Investments LP lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 49.0% in the third quarter, Holdings Channel.com reports. The fund owned 2,600 shares of the electronics maker’s stock after selling 2,500 shares during the quarter. Versor Investments LP’s holdings in TE Connectivity were worth $393,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in TE Connectivity by 54.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after acquiring an additional 5,526,230 shares during the period. Ameriprise Financial Inc. grew its holdings in TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after acquiring an additional 1,304,199 shares during the period. Dimensional Fund Advisors LP grew its holdings 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 acquiring an additional 223,842 shares during the period. Cooke & Bieler LP grew its holdings in TE Connectivity by 3.3% during the 2nd quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker’s stock worth $263,832,000 after acquiring an additional 55,777 shares during the period. Finally, Canada Pension Plan Investment Board grew 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 worth $215,813,000 after acquiring an additional 166,339 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Down 1.0 %

TEL opened at $153.26 on Friday. The stock has a market capitalization of $46.58 billion, a P/E ratio of 14.92, a P/E/G ratio of 2.09 and a beta of 1.33. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. The firm’s fifty day simple moving average is $148.28 and its 200 day simple moving average is $149.17. 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 posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. The business had revenue of $4.07 billion for 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%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 EPS. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.

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

Analyst Ratings Changes

TEL has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their target price on shares of 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 raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Robert W. Baird lifted their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Truist Financial lifted their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Company Profile

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.