TE Connectivity Ltd. (NYSE:TEL) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 982.6% during the third quarter, Holdings Channel reports. The institutional investor owned 255,659 shares of the electronics maker’s stock after buying an additional 232,044 shares during the quarter. Mizuho Securities USA LLC’s holdings in TE Connectivity were worth $38,602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC lifted its position in shares of TE Connectivity by 26.3% during the 3rd quarter. Empowered Funds LLC now owns 26,743 shares of the electronics maker’s stock worth $4,038,000 after buying an additional 5,563 shares during the last quarter. CIBC Asset Management Inc lifted its position in TE Connectivity by 4.1% during the 3rd quarter. CIBC Asset Management Inc now owns 77,229 shares of the electronics maker’s stock worth $11,661,000 after acquiring an additional 3,030 shares during the period. OneDigital Investment Advisors LLC raised its position in TE Connectivity by 36.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,476 shares of the electronics maker’s stock worth $1,129,000 after buying an additional 1,999 shares during the last quarter. Lifeworks Advisors LLC lifted its holdings in TE Connectivity by 25.1% in the third quarter. Lifeworks Advisors LLC now owns 16,032 shares of the electronics maker’s stock valued at $2,421,000 after acquiring an additional 3,217 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of TE Connectivity during the 3rd quarter worth approximately $1,156,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Stock Down 3.2 %

Shares of TEL opened at $148.35 on Friday. The firm has a market cap of $44.38 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company’s fifty day moving average is $148.50 and its two-hundred day moving average is $149.24. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 earnings per share. Analysts forecast that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.

TE Connectivity announced that its board has initiated a stock repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Vertical Research initiated coverage on TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target for the company. Wells Fargo & Company decreased their price objective on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Saturday. They issued a “buy” rating for the company. Finally, Bank of America decreased their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.