Studio Investment Management LLC Acquires 152 Shares of TE Connectivity Ltd. (NYSE:TEL)

Studio Investment Management LLC lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,520 shares of the electronics maker’s stock after purchasing an additional 152 shares during the period. Studio Investment Management LLC’s holdings in TE Connectivity were worth $380,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. First County Bank CT boosted its holdings in shares of TE Connectivity by 27.8% during the 3rd quarter. First County Bank CT now owns 2,571 shares of the electronics maker’s stock worth $388,000 after buying an additional 559 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in TE Connectivity by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock worth $266,059,000 after acquiring an additional 9,864 shares in the last quarter. King Luther Capital Management Corp grew its holdings in TE Connectivity by 2.1% in the third quarter. King Luther Capital Management Corp now owns 13,923 shares of the electronics maker’s stock worth $2,102,000 after purchasing an additional 288 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in TE Connectivity by 769.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,401 shares of the electronics maker’s stock valued at $16,997,000 after purchasing an additional 99,466 shares in the last quarter. Finally, Commerce Bank raised its holdings in shares of TE Connectivity by 0.4% during the third quarter. Commerce Bank now owns 405,318 shares of the electronics maker’s stock valued at $61,199,000 after purchasing an additional 1,649 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL opened at $152.26 on Friday. The stock has a 50 day moving average of $148.96 and a 200 day moving average of $149.52. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. The company has a market capitalization of $45.55 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 2.04 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS 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 for the quarter, compared to analysts’ expectations of $4 billion. During the same period in the previous year, the business posted $1.78 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

TE Connectivity announced 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 shares. This buyback authorization authorizes the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

TEL has been the subject of several research reports. The Goldman Sachs Group reduced their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research note on Thursday, October 31st. StockNews.com assumed coverage on TE Connectivity in a report on Saturday, November 16th. They issued a “buy” rating on the stock. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Finally, Wells Fargo & Company decreased their target price 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $159.55.

TE Connectivity Company 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.