Sanctuary Advisors LLC Raises Stake in TE Connectivity Ltd. (NYSE:TEL)

Sanctuary Advisors LLC lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 124.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 65,749 shares of the electronics maker’s stock after buying an additional 36,423 shares during the quarter. Sanctuary Advisors LLC’s holdings in TE Connectivity were worth $10,011,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Optas LLC lifted its stake in shares of TE Connectivity by 4.2% during the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after purchasing an additional 71 shares during the period. Gradient Investments LLC lifted its position in TE Connectivity by 2.2% during the second quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker’s stock worth $542,000 after buying an additional 76 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in TE Connectivity by 3.4% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 2,297 shares of the electronics maker’s stock worth $346,000 after buying an additional 76 shares during the last quarter. OLD National Bancorp IN grew its holdings in TE Connectivity by 3.6% in the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock valued at $374,000 after buying an additional 85 shares during the period. Finally, Metis Global Partners LLC increased its stake in shares of TE Connectivity by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

TEL stock opened at $150.09 on Friday. The firm has a market cap of $44.90 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. 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 1 year low of $128.52 and a 1 year high of $159.98. The stock has a 50-day simple moving average of $150.10 and a 200-day simple moving average of $149.76.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $4 billion. During the same quarter last year, the company earned $1.78 earnings per share. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities analysts predict that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved 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 buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

TEL has been the topic of several research analyst reports. 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. Wolfe Research raised 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 cut their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company lowered their price target on 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. Finally, StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity 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.