Bridgewater Associates LP Grows Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Bridgewater Associates LP lifted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 76.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,604 shares of the electronics maker’s stock after acquiring an additional 38,378 shares during the quarter. Bridgewater Associates LP’s holdings in TE Connectivity were worth $13,378,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position 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 purchasing an additional 1,304,199 shares during the period. Dimensional Fund Advisors LP grew its holdings in 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 acquiring an additional 223,842 shares during the period. Charles Schwab Investment Management Inc. raised its position in 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 acquiring an additional 9,864 shares in the last quarter. Cooke & Bieler LP lifted its holdings in TE Connectivity by 3.3% in the second quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker’s stock valued at $263,832,000 after acquiring an additional 55,777 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in TE Connectivity by 13.1% in 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 purchasing an additional 166,339 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. StockNews.com assumed coverage on shares of TE Connectivity in a research report on Sunday, November 24th. They issued a “buy” rating for the company. Bank of America dropped their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. HSBC cut 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 cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Trading Up 0.9 %

Shares of TEL stock opened at $151.15 on Friday. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The stock’s fifty day moving average is $149.28 and its two-hundred day moving average is $149.69. The firm has a market capitalization of $45.22 billion, a P/E ratio of 14.72, a PEG ratio of 2.05 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. Research analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a share buyback 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s board 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.