Haverford Trust Co Acquires 6,245 Shares of TE Connectivity Ltd. (NYSE:TEL)

Haverford Trust Co raised its position in TE Connectivity Ltd. (NYSE:TEL) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 205,494 shares of the electronics maker’s stock after purchasing an additional 6,245 shares during the period. Haverford Trust Co owned 0.07% of TE Connectivity worth $31,028,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 worth $2,265,218,000 after acquiring an additional 5,526,230 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of TE Connectivity by 26.2% in the second 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. Dimensional Fund Advisors LP increased its position in shares of TE Connectivity by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock valued at $469,113,000 after acquiring an additional 223,842 shares during the period. Cooke & Bieler LP increased its position in shares of TE Connectivity by 3.3% in the second quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker’s stock valued at $263,832,000 after acquiring an additional 55,777 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of TE Connectivity by 13.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,434,642 shares of the electronics maker’s stock valued at $215,813,000 after purchasing an additional 166,339 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Down 1.1 %

Shares of TEL stock opened at $153.37 on Wednesday. TE Connectivity Ltd. has a 12 month low of $124.95 and a 12 month high of $159.98. The stock has a market cap of $46.61 billion, a P/E ratio of 14.93, a P/E/G ratio of 2.11 and a beta of 1.33. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $148.04 and a two-hundred day simple moving average of $149.04.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 earnings per share. On average, research analysts expect that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has initiated a share buyback program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Vertical Research began coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price on the stock. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. The Goldman Sachs Group dropped their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Wells Fargo & Company dropped their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. Finally, Bank of America dropped their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.