Metis Global Partners LLC Acquires 96 Shares of TE Connectivity Ltd. (NYSE:TEL)

Metis Global Partners LLC boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,771 shares of the electronics maker’s stock after acquiring 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.

Several other hedge funds also recently bought and sold shares of TEL. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of TE Connectivity by 72.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock valued at $46,537,000 after purchasing an additional 135,548 shares during the period. Manning & Napier Advisors LLC bought a new position in TE Connectivity in the 2nd quarter worth about $15,847,000. CANADA LIFE ASSURANCE Co increased its position in shares of TE Connectivity by 5.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 283,128 shares of the electronics maker’s stock worth $41,117,000 after acquiring an additional 15,052 shares during the period. Marshall Financial Group LLC bought a new stake in shares of TE Connectivity during the second quarter valued at approximately $995,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of TE Connectivity by 1,632.0% in the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after purchasing an additional 6,169 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL opened at $148.35 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The firm has a market cap of $44.38 billion, a PE ratio of 14.44, a P/E/G ratio of 2.10 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 stock has a fifty day moving average price of $148.50 and a 200-day moving average price of $149.24.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS 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 during the quarter, compared to analysts’ expectations of $4 billion. During the same period last year, the business posted $1.78 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Equities research analysts predict that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

TE Connectivity declared that its board has initiated a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

TEL has been the topic of several research reports. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Wells Fargo & Company decreased their price objective on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. Vertical Research initiated coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price on the stock. Robert W. Baird raised their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group lowered their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.