Entropy Technologies LP Increases Holdings in TE Connectivity Ltd. (NYSE:TEL)

Entropy Technologies LP increased its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 16.0% in the third quarter, Holdings Channel reports. The firm owned 38,295 shares of the electronics maker’s stock after acquiring an additional 5,279 shares during the period. TE Connectivity makes up 0.6% of Entropy Technologies LP’s portfolio, making the stock its 22nd biggest position. Entropy Technologies LP’s holdings in TE Connectivity were worth $5,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in TE Connectivity by 54.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after buying an additional 5,526,230 shares during the last quarter. Ameriprise Financial Inc. boosted its position in TE Connectivity by 26.2% in the 2nd 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 position in TE Connectivity by 7.7% in 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 buying an additional 223,842 shares during the last quarter. Cooke & Bieler LP raised its stake in shares of TE Connectivity by 3.3% in the 2nd 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 in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of TE Connectivity by 13.1% in 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 hedge funds and other institutional investors.

TE Connectivity Price Performance

NYSE TEL opened at $155.03 on Tuesday. TE Connectivity Ltd. has a 12 month low of $124.95 and a 12 month 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. The firm has a market capitalization of $47.12 billion, a PE ratio of 15.10, a P/E/G ratio of 2.11 and a beta of 1.33. The company’s 50 day simple moving average is $148.01 and its 200 day simple moving average is $148.93.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 earnings per share. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.

TE Connectivity declared that its board has authorized a stock repurchase program on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TEL shares. 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. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. The Goldman Sachs Group dropped their price objective 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. Bank of America dropped their price objective 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. Finally, Vertical Research started coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.