Meeder Advisory Services Inc. Buys 291 Shares of TE Connectivity Ltd. (NYSE:TEL)

Meeder Advisory Services Inc. grew its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,434 shares of the electronics maker’s stock after acquiring an additional 291 shares during the period. Meeder Advisory Services Inc.’s holdings in TE Connectivity were worth $1,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in TE Connectivity by 54.9% during 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 acquiring an additional 5,526,230 shares in the last quarter. Ameriprise Financial Inc. lifted 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 acquiring an additional 1,304,199 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of TE Connectivity by 238.4% during the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after purchasing an additional 506,754 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of TE Connectivity by 43.0% during the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after acquiring an additional 347,315 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in TE Connectivity by 141.3% in the 2nd quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock worth $70,445,000 after purchasing an additional 274,206 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 0.0 %

NYSE:TEL opened at $148.36 on Tuesday. The firm has a 50-day simple moving average of $148.57 and a 200-day simple moving average of $149.42. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98. The firm has a market cap of $44.38 billion, a P/E ratio of 14.45, a P/E/G ratio of 2.02 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. TE Connectivity’s revenue was up .8% on a year-over-year basis. Equities analysts anticipate that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.

TE Connectivity Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 25th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a yield of 1.75%. TE Connectivity’s dividend payout ratio is presently 25.32%.

TE Connectivity declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TEL shares. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report 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 for the company in a research note on Tuesday, October 1st. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Bank of America dropped their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.