Signition LP grew its position in shares of TE Connectivity Ltd (NYSE:TEL) by 205.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,867 shares of the electronics maker’s stock after purchasing an additional 5,292 shares during the period. Signition LP’s holdings in TE Connectivity were worth $692,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of TEL. Flagship Harbor Advisors LLC bought a new stake in shares of TE Connectivity in the 2nd quarter valued at about $111,000. Fort L.P. bought a new stake in shares of TE Connectivity in the 2nd quarter valued at about $115,000. Private Capital Group LLC bought a new stake in shares of TE Connectivity in the 2nd quarter valued at about $121,000. Moneta Group Investment Advisors LLC bought a new stake in shares of TE Connectivity in the 2nd quarter valued at about $180,000. Finally, Legacy Capital Partners Inc. bought a new stake in shares of TE Connectivity in the 3rd quarter valued at about $217,000. 88.01% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on TEL. Zacks Investment Research lowered TE Connectivity from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Royal Bank of Canada set a $114.00 target price on TE Connectivity and gave the company a “buy” rating in a research note on Tuesday, September 25th. SunTrust Banks reissued a “hold” rating and issued a $82.00 target price on shares of TE Connectivity in a research note on Wednesday. Macquarie began coverage on TE Connectivity in a research note on Monday, October 8th. They issued an “outperform” rating for the company. Finally, Wells Fargo & Co lowered their target price on TE Connectivity from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, July 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. TE Connectivity has a consensus rating of “Buy” and an average price target of $108.00.
Shares of NYSE:TEL opened at $77.44 on Friday. TE Connectivity Ltd has a 1 year low of $73.70 and a 1 year high of $108.23. The stock has a market cap of $26.28 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.16 and a beta of 1.16. The company has a current ratio of 1.41, a quick ratio of 0.98 and a debt-to-equity ratio of 0.28.
TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 31st. The electronics maker reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.02. TE Connectivity had a return on equity of 20.06% and a net margin of 17.69%. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the previous year, the business earned $1.25 EPS. TE Connectivity’s revenue was up 8.5% compared to the same quarter last year. On average, analysts expect that TE Connectivity Ltd will post 5.86 earnings per share for the current fiscal year.
TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, engages in the design, manufacture, and sale of connectivity and sensors solutions in the Americas, Europe, the Middle East, Africa, and the AsiaPacific. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.
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