Transamerica Financial Advisors Inc. Acquires 341 Shares of TE Connectivity Ltd. (NYSE:TEL)

Transamerica Financial Advisors Inc. raised its holdings in TE Connectivity Ltd. (NYSE:TEL) by 34.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,329 shares of the electronics maker’s stock after purchasing an additional 341 shares during the period. Transamerica Financial Advisors Inc.’s holdings in TE Connectivity were worth $201,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new stake in TE Connectivity in the 2nd quarter valued at about $15,847,000. Venturi Wealth Management LLC raised its position in shares of TE Connectivity by 1,632.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after buying an additional 6,169 shares in the last quarter. Marshall Financial Group LLC acquired a new position in shares of TE Connectivity in the 2nd quarter valued at approximately $995,000. Oppenheimer Asset Management Inc. raised its position in shares of TE Connectivity by 21.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock valued at $10,471,000 after buying an additional 12,140 shares in the last quarter. Finally, Waverton Investment Management Ltd raised its position in shares of TE Connectivity by 8.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after buying an additional 106,688 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on TEL shares. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Wells Fargo & Company lowered their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research report on Thursday, October 31st. Finally, StockNews.com initiated coverage on shares of TE Connectivity in a research report on Sunday. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Trading Down 1.9 %

NYSE:TEL opened at $149.84 on Wednesday. The firm’s fifty day moving average is $149.14 and its 200-day moving average is $149.67. 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 Ltd. has a 52 week low of $128.52 and a 52 week high of $159.98. The firm has a market cap of $44.83 billion, a P/E ratio of 14.59, a P/E/G ratio of 2.07 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts’ consensus estimates of $1.95. The company 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 company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. Equities analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

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

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.