GSA Capital Partners LLP Has $273,000 Stake in TE Connectivity Ltd (TEL)
GSA Capital Partners LLP trimmed its holdings in TE Connectivity Ltd (NYSE:TEL) by 84.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,290 shares of the electronics maker’s stock after selling 17,423 shares during the period. GSA Capital Partners LLP’s holdings in TE Connectivity were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of TE Connectivity by 2.3% in the second quarter. Vanguard Group Inc. now owns 23,312,100 shares of the electronics maker’s stock valued at $1,834,196,000 after buying an additional 521,884 shares in the last quarter. Russell Investments Group Ltd. increased its stake in TE Connectivity by 10.9% in the third quarter. Russell Investments Group Ltd. now owns 227,441 shares of the electronics maker’s stock valued at $18,890,000 after acquiring an additional 22,345 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in TE Connectivity by 499.5% in the second quarter. PNC Financial Services Group Inc. now owns 1,386,610 shares of the electronics maker’s stock valued at $109,098,000 after acquiring an additional 1,155,316 shares during the last quarter. U S Global Investors Inc. increased its stake in TE Connectivity by 21.1% in the second quarter. U S Global Investors Inc. now owns 6,540 shares of the electronics maker’s stock valued at $515,000 after acquiring an additional 1,140 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in TE Connectivity by 55.2% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 315,263 shares of the electronics maker’s stock valued at $26,131,000 after acquiring an additional 112,161 shares during the last quarter. Institutional investors own 90.02% of the company’s stock.
TEL has been the topic of a number of recent analyst reports. SunTrust Banks lifted their price objective on shares of TE Connectivity to $90.00 and gave the company a “hold” rating in a research note on Thursday, November 2nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of TE Connectivity from a “sell” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Thursday, November 2nd. Royal Bank of Canada reissued a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of TE Connectivity in a research note on Monday, October 30th. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 price objective on shares of TE Connectivity in a research note on Tuesday, October 17th. Finally, ValuEngine raised shares of TE Connectivity from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. TE Connectivity has an average rating of “Buy” and a consensus target price of $159.38.
Shares of TE Connectivity Ltd (TEL) opened at $98.52 on Thursday. The firm has a market cap of $34,640.00, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 1.73 and a beta of 1.08. TE Connectivity Ltd has a one year low of $67.47 and a one year high of $99.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.54.
TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, November 1st. The electronics maker reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.28 billion. TE Connectivity had a net margin of 12.84% and a return on equity of 18.97%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 earnings per share. sell-side analysts expect that TE Connectivity Ltd will post 5.27 EPS for the current year.
TE Connectivity announced that its board has authorized a share repurchase program on Friday, December 8th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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TE Connectivity Profile
TE Connectivity Ltd. is a technology company. The Company designs and manufactures connectivity and sensors solutions. It operates through three segments: Transportation Solutions, Industrial Solutions and Communications Solutions. The Transportation Solutions segment offers connectivity and sensor technologies.
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