King Luther Capital Management Corp Increases Stake in TE Connectivity Ltd. (NYSE:TEL)

King Luther Capital Management Corp boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 2.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,923 shares of the electronics maker’s stock after purchasing an additional 288 shares during the quarter. King Luther Capital Management Corp’s holdings in TE Connectivity were worth $2,102,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of TEL. Versant Capital Management Inc increased its holdings in shares of TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after buying an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new stake in TE Connectivity during the second quarter worth about $30,000. Armstrong Advisory Group Inc. raised its holdings in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the period. Bank & Trust Co acquired a new position in shares of TE Connectivity in the 2nd quarter valued at about $35,000. Finally, Wolff Wiese Magana LLC grew its holdings in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Up 1.6 %

TEL opened at $152.26 on Friday. The stock has a market capitalization of $45.55 billion, a PE ratio of 14.83, a P/E/G ratio of 2.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The firm’s fifty day moving average price is $148.96 and its 200 day moving average price is $149.52.

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

TE Connectivity declared that its board has approved a stock buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. Wells Fargo & Company decreased their price target 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 raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Bank of America decreased their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group dropped their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.