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

Brown Brothers Harriman & Co. raised its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,219 shares of the electronics maker’s stock after buying an additional 184 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in TE Connectivity were worth $927,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its position 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 valued at $944,791,000 after acquiring an additional 1,304,199 shares in the last quarter. Point72 Asset Management L.P. increased its stake in TE Connectivity by 238.4% during the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after purchasing an additional 506,754 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of TE Connectivity by 43.0% during the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock worth $174,955,000 after purchasing an additional 347,315 shares during the period. Toronto Dominion Bank lifted 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 last quarter. Finally, Mizuho Securities USA LLC boosted its holdings in shares of TE Connectivity by 982.6% in the 3rd quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker’s stock valued at $38,602,000 after buying an additional 232,044 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 1.9 %

TEL stock opened at $149.84 on Wednesday. TE Connectivity Ltd. has a 52 week low of $128.52 and a 52 week high of $159.98. The company has a market capitalization of $44.83 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. The firm’s 50-day moving average is $149.14 and its two-hundred day moving average is $149.67. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting 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 during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The company’s revenue was up .8% on a year-over-year basis. On average, analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity announced that its board has approved a share repurchase 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 purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on TEL shares. 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. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. StockNews.com started coverage on TE Connectivity in a research note on Sunday. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company lowered their price target 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. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $159.55.

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.