TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its holdings in TE Connectivity Ltd. (NYSE:TEL) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,219 shares of the electronics maker’s stock after acquiring an additional 184 shares during the period. Brown Brothers Harriman & Co.’s holdings in TE Connectivity were worth $927,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its holdings in shares of TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after acquiring an additional 1,304,199 shares during the period. Point72 Asset Management L.P. grew its stake in shares of TE Connectivity by 238.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after buying an additional 506,754 shares during the period. Bank of Montreal Can increased its holdings in shares of TE Connectivity by 43.0% during the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock worth $174,955,000 after buying an additional 347,315 shares during the last quarter. Toronto Dominion Bank raised its position in shares of TE Connectivity by 141.3% in the 2nd quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock worth $70,445,000 after buying an additional 274,206 shares during the period. Finally, Mizuho Securities USA LLC boosted its holdings in TE Connectivity by 982.6% in the third quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker’s stock valued at $38,602,000 after acquiring an additional 232,044 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

TEL has been the subject of several research analyst reports. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company dropped their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. The Goldman Sachs Group dropped their price objective 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. Finally, StockNews.com initiated coverage on shares of TE Connectivity in a research note on Sunday. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Stock Performance

Shares of TEL stock opened at $149.84 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The company’s fifty day moving average price is $149.14 and its two-hundred day moving average price is $149.67. The firm has a market capitalization of $44.83 billion, a P/E ratio of 14.59, a P/E/G ratio of 2.07 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.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. On average, research analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity announced that its Board of Directors has initiated a share repurchase 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.