TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC increased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 11.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 22,722 shares of the electronics maker’s stock after acquiring an additional 2,276 shares during the period. MML Investors Services LLC’s holdings in TE Connectivity were worth $3,431,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TEL. Wealth Enhancement Advisory Services LLC lifted its stake in TE Connectivity by 13.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,504 shares of the electronics maker’s stock worth $4,438,000 after acquiring an additional 3,451 shares in the last quarter. Blue Trust Inc. raised its position in TE Connectivity by 48.6% in the 2nd quarter. Blue Trust Inc. now owns 700 shares of the electronics maker’s stock valued at $102,000 after purchasing an additional 229 shares in the last quarter. Nisa Investment Advisors LLC raised its position in TE Connectivity by 3.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 67,090 shares of the electronics maker’s stock valued at $10,092,000 after purchasing an additional 2,010 shares in the last quarter. First Horizon Advisors Inc. raised its position in TE Connectivity by 4.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,134 shares of the electronics maker’s stock valued at $471,000 after purchasing an additional 125 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its position in TE Connectivity by 1.5% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 28,477 shares of the electronics maker’s stock valued at $4,284,000 after purchasing an additional 429 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Down 0.8 %

Shares of TEL stock opened at $150.09 on Friday. The business’s 50 day moving average is $150.10 and its two-hundred day moving average is $149.76. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The company has a market capitalization of $44.90 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last announced 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. 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 for the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the business posted $1.78 EPS. The company’s revenue was up .8% on a year-over-year basis. Equities analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity announced that its board has approved a stock repurchase plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have issued reports on TEL. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. The Goldman Sachs Group reduced their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Finally, Bank of America dropped their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.