Assenagon Asset Management S.A. Buys 157 Shares of TE Connectivity Ltd. (NYSE:TEL)

Assenagon Asset Management S.A. increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,368 shares of the electronics maker’s stock after buying an additional 157 shares during the quarter. Assenagon Asset Management S.A.’s holdings in TE Connectivity were worth $3,484,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Optas LLC lifted its holdings in shares of TE Connectivity by 4.2% during the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after acquiring an additional 71 shares during the period. OLD National Bancorp IN lifted its holdings in TE Connectivity by 3.6% during the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock valued at $374,000 after purchasing an additional 85 shares during the last quarter. Metis Global Partners LLC boosted its position in TE Connectivity by 1.0% in the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after buying an additional 96 shares in the last quarter. Insigneo Advisory Services LLC grew its stake in TE Connectivity by 2.4% during the third quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock worth $684,000 after buying an additional 108 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of TE Connectivity by 6.4% during the third quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock worth $295,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TEL stock opened at $148.23 on Wednesday. TE Connectivity Ltd. has a twelve month low of $133.00 and a twelve month high of $159.98. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company has a market cap of $44.35 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.98 and a beta of 1.32. The business’s fifty day moving average is $147.53 and its 200-day moving average is $148.77.

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

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

Analyst Ratings Changes

A number of equities research analysts recently commented on TEL shares. Wells Fargo & Company decreased their price target on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Bank of America decreased their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $160.70.

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.