TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 28.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 549,781 shares of the electronics maker’s stock after acquiring an additional 121,554 shares during the quarter. BNP Paribas Financial Markets owned 0.18% of TE Connectivity worth $83,011,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Simplicity Wealth LLC raised its holdings in shares of TE Connectivity by 2.7% during the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock worth $377,000 after acquiring an additional 67 shares during the period. Silvercrest Asset Management Group LLC increased its stake in TE Connectivity by 2.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after purchasing an additional 68 shares during the period. Optas LLC increased its stake in TE Connectivity by 4.2% during the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after purchasing an additional 71 shares during the period. Gradient Investments LLC grew its position in shares of TE Connectivity by 2.2% during the second quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker’s stock worth $542,000 after buying an additional 76 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its position in shares of TE Connectivity by 3.4% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,297 shares of the electronics maker’s stock worth $346,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Up 0.8 %

TE Connectivity stock opened at $151.13 on Thursday. 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 firm has a market capitalization of $45.21 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The stock’s fifty day moving average is $149.24 and its two-hundred day moving average is $149.68.

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 the consensus estimate of $1.95. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 earnings per share. Analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity announced that its board has approved a share repurchase plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wells Fargo & Company lowered their price objective on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. HSBC downgraded 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. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Bank of America lowered their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Finally, Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.