TE Connectivity Ltd. (NYSE:TEL) Shares Acquired by Metis Global Partners LLC

Metis Global Partners LLC increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,771 shares of the electronics maker’s stock after purchasing an additional 96 shares during the quarter. Metis Global Partners LLC’s holdings in TE Connectivity were worth $1,475,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TEL. Versant Capital Management Inc boosted its holdings in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new position in TE Connectivity during the second quarter valued at $30,000. Armstrong Advisory Group Inc. boosted its holdings in TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 150 shares during the last quarter. Bank & Trust Co acquired a new stake in TE Connectivity during the 2nd quarter worth about $35,000. Finally, Wolff Wiese Magana LLC raised its stake in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after buying an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 3.2 %

Shares of TEL opened at $148.35 on Friday. The stock has a 50 day moving average price of $148.50 and a 200 day moving average price of $149.24. TE Connectivity Ltd. has a one year low of $128.52 and a one year 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 has a market capitalization of $44.38 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 2.10 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.95. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 earnings per share. Equities research analysts forecast that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

TE Connectivity announced that its board has initiated a share repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in 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 typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Vertical Research assumed coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price for the company. Wells Fargo & Company decreased 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 research note on Friday, September 20th. Truist Financial lifted their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com started coverage on shares of TE Connectivity in a research note on Saturday. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, TE Connectivity 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.