TE Connectivity Ltd. (NYSE:TEL) Holdings Boosted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 5.9% during the third quarter, HoldingsChannel.com reports. The fund owned 47,874 shares of the electronics maker’s stock after acquiring an additional 2,649 shares during the period. Daiwa Securities Group Inc.’s holdings in TE Connectivity were worth $7,229,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new position in TE Connectivity in the second quarter worth about $15,847,000. Venturi Wealth Management LLC increased its stake 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. Marshall Financial Group LLC acquired a new stake in shares of TE Connectivity in the second quarter valued at approximately $995,000. Oppenheimer Asset Management Inc. increased its stake in shares of TE Connectivity by 21.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock valued at $10,471,000 after purchasing an additional 12,140 shares during the period. Finally, Waverton Investment Management Ltd increased its stake in shares of TE Connectivity by 8.2% in the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after purchasing an additional 106,688 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 0.3 %

TE Connectivity stock opened at $152.67 on Tuesday. 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 cap of $45.67 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The firm’s 50 day moving average price is $149.10 and its two-hundred day moving average price is $149.64.

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, hitting the consensus estimate of $1.95. The firm had revenue of $4.07 billion for 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 firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 earnings per share. On average, research analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity declared that its board has approved a share repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TEL shares. Bank of America dropped 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. The Goldman Sachs Group dropped their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research note on Thursday, October 31st. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price objective on shares of 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. One investment 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.com, the company presently has an average rating of “Hold” and a consensus 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.