YANKCOM Partnership Makes New $491,000 Investment in TE Connectivity Ltd. (NYSE:TEL)

YANKCOM Partnership purchased a new position in TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,431 shares of the electronics maker’s stock, valued at approximately $491,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Robertson Stephens Wealth Management LLC boosted its position in TE Connectivity by 7.7% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 4,847 shares of the electronics maker’s stock valued at $693,000 after purchasing an additional 347 shares during the last quarter. Econ Financial Services Corp grew its position in TE Connectivity by 4.5% in the fourth quarter. Econ Financial Services Corp now owns 10,129 shares of the electronics maker’s stock worth $1,448,000 after acquiring an additional 438 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in TE Connectivity by 9.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,562 shares of the electronics maker’s stock valued at $6,133,000 after purchasing an additional 3,716 shares during the last quarter. ARGA Investment Management LP lifted its position in shares of TE Connectivity by 12.6% during the 4th quarter. ARGA Investment Management LP now owns 13,717 shares of the electronics maker’s stock worth $1,961,000 after purchasing an additional 1,538 shares during the last quarter. Finally, Ninety One North America Inc. raised its stake in TE Connectivity by 2.3% during the 4th quarter. Ninety One North America Inc. now owns 102,503 shares of the electronics maker’s stock valued at $14,655,000 after purchasing an additional 2,338 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TEL shares. Bank of America lifted their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a report on Thursday, January 23rd. Wells Fargo & Company raised their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Finally, Citigroup boosted their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $146.19 on Thursday. The company has a market cap of $43.62 billion, a PE ratio of 23.35, a P/E/G ratio of 2.03 and a beta of 1.32. The business has a 50 day moving average of $147.33 and a 200 day moving average of $148.45. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

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

TE Connectivity announced that its Board of Directors has initiated a share buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.