TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Financial Counselors Inc.

Financial Counselors Inc. boosted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.8% during the third quarter, HoldingsChannel.com reports. The firm owned 151,878 shares of the electronics maker’s stock after purchasing an additional 4,131 shares during the period. Financial Counselors Inc.’s holdings in TE Connectivity were worth $22,932,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Versant Capital Management Inc lifted its position 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 valued at $28,000 after buying an additional 128 shares in the last quarter. Olistico Wealth LLC purchased a new position in TE Connectivity during the second quarter valued at $30,000. Armstrong Advisory Group Inc. grew its position in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 150 shares during the period. Bank & Trust Co purchased a new stake in shares of TE Connectivity during the second quarter worth about $35,000. Finally, Wolff Wiese Magana LLC raised its position 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 last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TEL shares. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Bank of America lowered their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. StockNews.com assumed coverage on shares of TE Connectivity in a report on Sunday. They set a “buy” rating for the company. Finally, Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Stock Performance

TE Connectivity stock opened at $151.13 on Thursday. The stock has a market cap of $45.21 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 2.07 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. The firm has a 50 day simple moving average of $149.24 and a 200-day simple moving average of $149.68. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter last year, the firm earned $1.78 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity declared that its Board of Directors has authorized 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 reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is 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.