TE Connectivity Ltd. (NYSE:TEL) Shares Purchased by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 308,006 shares of the electronics maker’s stock after buying an additional 39,328 shares during the quarter. Great West Life Assurance Co. Can owned 0.10% of TE Connectivity worth $43,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Tucker Asset Management LLC purchased a new stake in TE Connectivity during the first quarter worth $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of TE Connectivity in the first quarter valued at about $27,000. Centerpoint Advisors LLC acquired a new stake in shares of TE Connectivity in the first quarter valued at approximately $33,000. Blume Capital Management Inc. acquired a new position in shares of TE Connectivity during the 1st quarter worth approximately $36,000. Finally, Money Concepts Capital Corp increased its position in TE Connectivity by 101.3% during the fourth quarter. Money Concepts Capital Corp now owns 322 shares of the electronics maker’s stock worth $37,000 after buying an additional 162 shares in the last quarter. 90.75% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Down 0.2 %

Shares of TEL opened at $131.26 on Tuesday. TE Connectivity Ltd. has a fifty-two week low of $111.94 and a fifty-two week high of $146.60. The company’s fifty day moving average is $123.77 and its two-hundred day moving average is $129.29. The firm has a market cap of $40.79 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. The company has a quick ratio of 1.20, a current ratio of 1.77 and a debt-to-equity ratio of 0.31.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, November 1st. The electronics maker reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.02. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a return on equity of 18.88% and a net margin of 11.91%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 earnings per share. Analysts forecast that TE Connectivity Ltd. will post 7.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. StockNews.com began coverage on TE Connectivity in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. TD Cowen upgraded shares of TE Connectivity from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $115.00 to $140.00 in a report on Friday, October 6th. Robert W. Baird raised their target price on shares of TE Connectivity from $149.00 to $153.00 in a research report on Thursday, July 27th. Finally, Truist Financial cut their price target on TE Connectivity from $147.00 to $135.00 and set a “hold” rating for the company in a report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $143.63.

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.