Olympiad Research LP Buys 1,434 Shares of TE Connectivity Ltd. (NYSE:TEL)

Olympiad Research LP increased its stake in TE Connectivity Ltd. (NYSE:TEL) by 66.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,588 shares of the electronics maker’s stock after purchasing an additional 1,434 shares during the quarter. Olympiad Research LP’s holdings in TE Connectivity were worth $542,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TEL. Price T Rowe Associates Inc. MD raised its holdings in TE Connectivity by 54.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after acquiring an additional 5,526,230 shares during the period. Ameriprise Financial Inc. raised its holdings in TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after acquiring an additional 1,304,199 shares during the period. Point72 Asset Management L.P. raised its holdings in 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 acquiring an additional 506,754 shares during the period. Bank of Montreal Can raised its holdings in 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 valued at $174,955,000 after acquiring an additional 347,315 shares during the period. Finally, Toronto Dominion Bank raised its holdings in TE Connectivity by 141.3% during the 2nd quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock valued at $70,445,000 after acquiring an additional 274,206 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 3.8 %

Shares of NYSE:TEL opened at $154.74 on Thursday. TE Connectivity Ltd. has a 52-week low of $123.79 and a 52-week high of $159.98. The firm has a fifty day moving average of $147.90 and a 200 day moving average of $148.71. The firm has a market capitalization of $47.03 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

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 the consensus estimate of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of brokerages have issued reports on TEL. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a report on Thursday, October 31st. Wells Fargo & Company decreased their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. StockNews.com started coverage on shares of TE Connectivity in a report on Thursday, October 31st. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group decreased their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.