ARGA Investment Management LP Raises Stock Position in TE Connectivity Ltd. (NYSE:TEL)

ARGA Investment Management LP lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 12.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 13,717 shares of the electronics maker’s stock after buying an additional 1,538 shares during the period. ARGA Investment Management LP’s holdings in TE Connectivity were worth $1,961,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its position in TE Connectivity by 4.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after purchasing an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after buying an additional 23,755 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of TE Connectivity by 1,632.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after buying an additional 6,169 shares in the last quarter. Waverton Investment Management Ltd grew its stake in TE Connectivity by 8.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after acquiring an additional 106,688 shares during the last quarter. Finally, Meyer Handelman Co. increased its holdings in TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after acquiring an additional 9,175 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by insiders.

TE Connectivity Trading Down 0.2 %

Shares of TEL opened at $144.75 on Wednesday. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The firm has a market capitalization of $43.19 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $147.43 and its 200 day simple moving average is $148.49.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the business posted $1.84 EPS. On average, equities research analysts forecast that TE Connectivity Ltd. will post 7.96 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has approved a share buyback program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding 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 typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

TEL has been the subject of several research reports. Citigroup lifted their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Robert W. Baird increased their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

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.