Janney Montgomery Scott LLC Acquires 6,666 Shares of TE Connectivity Ltd. (NYSE:TEL)

Janney Montgomery Scott LLC boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 221,089 shares of the electronics maker’s stock after acquiring an additional 6,666 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of TE Connectivity worth $33,382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEL. Janney Capital Management LLC lifted its holdings in shares of TE Connectivity by 12.9% in the third quarter. Janney Capital Management LLC now owns 2,041 shares of the electronics maker’s stock valued at $308,000 after purchasing an additional 233 shares in the last quarter. Optas LLC lifted its holdings in shares of TE Connectivity by 4.2% in the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after purchasing an additional 71 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of TE Connectivity by 20.9% in the third quarter. Farther Finance Advisors LLC now owns 1,611 shares of the electronics maker’s stock valued at $243,000 after purchasing an additional 278 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in shares of TE Connectivity by 24.8% in the third quarter. Catalyst Financial Partners LLC now owns 2,332 shares of the electronics maker’s stock valued at $352,000 after purchasing an additional 463 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. lifted its holdings in shares of TE Connectivity by 13.2% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,676 shares of the electronics maker’s stock valued at $253,000 after purchasing an additional 195 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Price Performance

TE Connectivity stock opened at $150.10 on Tuesday. TE Connectivity Ltd. has a 12 month low of $123.79 and a 12 month high of $159.98. The stock’s 50 day moving average is $147.89 and its 200-day moving average is $148.60. The company has a current ratio of 1.61, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $45.62 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 2.00 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts expect that TE Connectivity Ltd. will post 8.16 EPS for the current year.

TE Connectivity announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Bank of America lowered their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. StockNews.com started coverage on TE Connectivity in a research report on Thursday, October 31st. They issued a “buy” rating on the stock. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. 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.com, the stock presently has a consensus rating of “Hold” and an average 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.