TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 13.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 322,696 shares of the electronics maker’s stock after purchasing an additional 38,539 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.11% of TE Connectivity worth $48,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. lifted its stake in 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 buying an additional 1,304,199 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in TE Connectivity by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock valued at $469,113,000 after purchasing an additional 223,842 shares during the period. Charles Schwab Investment Management Inc. grew its position in TE Connectivity by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock worth $266,059,000 after purchasing an additional 9,864 shares during the last quarter. Cooke & Bieler LP increased its stake 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 purchasing an additional 55,777 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of TE Connectivity by 13.1% during the second quarter. Canada Pension Plan Investment Board now owns 1,434,642 shares of the electronics maker’s stock valued at $215,813,000 after buying an additional 166,339 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 0.9 %

TEL opened at $151.15 on Friday. The company has a market capitalization of $45.22 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 2.05 and a beta of 1.33. The business has a 50-day moving average of $149.28 and a 200-day moving average of $149.69. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the business posted $1.78 EPS. TE Connectivity’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a share buyback plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TEL shares. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a report on Thursday, October 31st. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Bank of America reduced their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, StockNews.com began coverage on shares of TE Connectivity in a research note on Sunday, November 24th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Company 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.