Healthcare of Ontario Pension Plan Trust Fund Raises Position in TE Connectivity Ltd. (NYSE:TEL)

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 141.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 255,800 shares of the electronics maker’s stock after purchasing an additional 150,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.08% of TE Connectivity worth $38,623,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TEL. Silvercrest Asset Management Group LLC raised its position in shares of TE Connectivity by 2.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after buying an additional 68 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of TE Connectivity by 18.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,665 shares of the electronics maker’s stock worth $1,404,000 after buying an additional 1,481 shares during the period. Tidal Investments LLC raised its position in shares of TE Connectivity by 17.4% in the 1st quarter. Tidal Investments LLC now owns 16,576 shares of the electronics maker’s stock worth $2,407,000 after buying an additional 2,452 shares during the period. Swedbank AB purchased a new position in shares of TE Connectivity in the 1st quarter worth $10,182,000. Finally, PGGM Investments raised its position in shares of TE Connectivity by 0.7% in the 1st quarter. PGGM Investments now owns 75,733 shares of the electronics maker’s stock worth $10,999,000 after buying an additional 550 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 0.8 %

NYSE:TEL opened at $151.13 on Thursday. The company has a market capitalization of $45.21 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98. The stock has a 50-day simple moving average of $149.24 and a 200 day simple moving average of $149.68. 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 EPS for the quarter, hitting analysts’ consensus estimates of $1.95. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned $1.78 earnings per share. Sell-side analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a share buyback program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. The Goldman Sachs Group cut their price objective 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. StockNews.com assumed coverage on TE Connectivity in a research report on Sunday. They issued a “buy” rating on the stock. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Bank of America cut their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a research report on Thursday, October 31st. 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. According to MarketBeat.com, TE Connectivity presently has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity Company 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.