Alliancebernstein L.P. Raises Holdings in TE Connectivity Ltd. (NYSE:TEL)

Alliancebernstein L.P. lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,223,029 shares of the electronics maker’s stock after purchasing an additional 29,041 shares during the period. Alliancebernstein L.P.’s holdings in TE Connectivity were worth $167,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in TE Connectivity by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 27,358,318 shares of the electronics maker’s stock valued at $3,699,118,000 after purchasing an additional 84,230 shares in the last quarter. Bank of America Corp DE increased its stake in TE Connectivity by 14.3% in the 2nd quarter. Bank of America Corp DE now owns 4,954,983 shares of the electronics maker’s stock valued at $669,965,000 after purchasing an additional 619,188 shares in the last quarter. Geode Capital Management LLC increased its stake in TE Connectivity by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 4,700,887 shares of the electronics maker’s stock valued at $633,459,000 after purchasing an additional 121,488 shares in the last quarter. Boston Partners increased its stake in TE Connectivity by 4.0% in the 3rd quarter. Boston Partners now owns 3,574,350 shares of the electronics maker’s stock valued at $490,553,000 after purchasing an additional 136,105 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in TE Connectivity by 2.3% in the 3rd quarter. Deutsche Bank AG now owns 3,172,499 shares of the electronics maker’s stock valued at $435,331,000 after purchasing an additional 71,253 shares in the last quarter. 89.94% of the stock is owned by institutional investors and hedge funds.

NYSE:TEL opened at $160.74 on Friday. The business’s 50-day moving average is $159.92 and its two-hundred day moving average is $150.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.56 and a quick ratio of 1.02. TE Connectivity Ltd. has a 12 month low of $116.87 and a 12 month high of $166.44. The firm has a market capitalization of $52.45 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 2.20 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, October 27th. The electronics maker reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.05. TE Connectivity had a return on equity of 21.58% and a net margin of 15.15%. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities analysts anticipate that TE Connectivity Ltd. will post 7.02 EPS for the current year.

In related news, CFO Heath A. Mitts sold 8,698 shares of TE Connectivity stock in a transaction dated Monday, December 27th. The stock was sold at an average price of $159.30, for a total value of $1,385,591.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Terrence R. Curtin sold 24,299 shares of TE Connectivity stock in a transaction dated Thursday, December 9th. The stock was sold at an average price of $158.06, for a total value of $3,840,699.94. The disclosure for this sale can be found here. Insiders sold 41,734 shares of company stock valued at $6,567,071 over the last quarter. Insiders own 0.79% of the company’s stock.

A number of brokerages have commented on TEL. Morgan Stanley increased their target price on TE Connectivity from $149.00 to $162.00 and gave the company an “equal weight” rating in a report on Wednesday, December 15th. Evercore ISI upgraded TE Connectivity from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $180.00 in a report on Wednesday, October 20th. The Goldman Sachs Group raised their price objective on TE Connectivity from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, January 10th. Finally, Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating and raised their price objective for the stock from $148.00 to $190.00 in a report on Tuesday, November 9th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, TE Connectivity currently has a consensus rating of “Buy” and an average target price of $158.44.

TE Connectivity Company Profile

TE Connectivity Ltd. engages in the design and manufacture of connectivity and sensors solutions. It operates through the following segments: Transportation, Industrial, and Communications Solutions. The Transportation Solutions segment offers products that are used in the automotive, commercial transportation, and sensors markets.

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Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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