Tidal Investments LLC Acquires 4,359 Shares of TE Connectivity Ltd. (NYSE:TEL)

Tidal Investments LLC increased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 24.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,128 shares of the electronics maker’s stock after purchasing an additional 4,359 shares during the quarter. Tidal Investments LLC’s holdings in TE Connectivity were worth $3,341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB increased its stake in shares of TE Connectivity by 286.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 16,784 shares of the electronics maker’s stock valued at $2,534,000 after buying an additional 12,444 shares during the period. Sanctuary Advisors LLC boosted its holdings in TE Connectivity by 124.2% in the third quarter. Sanctuary Advisors LLC now owns 65,749 shares of the electronics maker’s stock valued at $10,011,000 after acquiring an additional 36,423 shares during the last quarter. Anchor Investment Management LLC increased its position in TE Connectivity by 14.8% during the 3rd quarter. Anchor Investment Management LLC now owns 5,048 shares of the electronics maker’s stock valued at $762,000 after purchasing an additional 652 shares during the period. TCW Group Inc. bought a new position in TE Connectivity during the 3rd quarter worth approximately $4,443,000. Finally, Coldstream Capital Management Inc. lifted its position in shares of TE Connectivity by 23.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,462 shares of the electronics maker’s stock worth $978,000 after purchasing an additional 1,248 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Trading Down 0.8 %

TEL opened at $150.09 on Friday. The firm has a market capitalization of $44.90 billion, a PE ratio of 14.61, a P/E/G ratio of 2.04 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The company’s 50-day moving average is $150.10 and its 200 day moving average is $149.76.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the company earned $1.78 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts predict that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

TEL has been the topic of several recent analyst reports. The Goldman Sachs Group dropped their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. 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 downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Wells Fargo & Company cut their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. Finally, Bank of America lowered their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TE Connectivity has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity 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.