MONECO Advisors LLC Grows Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

MONECO Advisors LLC lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 33.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,570 shares of the electronics maker’s stock after purchasing an additional 641 shares during the period. MONECO Advisors LLC’s holdings in TE Connectivity were worth $367,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TEL. Foundations Investment Advisors LLC purchased a new stake in shares of TE Connectivity during the 3rd quarter worth $202,000. Private Advisor Group LLC lifted its position in shares of TE Connectivity by 3.3% during the 3rd quarter. Private Advisor Group LLC now owns 16,062 shares of the electronics maker’s stock worth $2,425,000 after purchasing an additional 513 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of TE Connectivity during the 3rd quarter worth $17,235,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of TE Connectivity by 141.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,846 shares of the electronics maker’s stock worth $5,874,000 after purchasing an additional 22,748 shares during the last quarter. Finally, Forsta AP Fonden raised its stake in TE Connectivity by 8.1% during the 3rd quarter. Forsta AP Fonden now owns 77,100 shares of the electronics maker’s stock worth $11,641,000 after acquiring an additional 5,800 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on TEL shares. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company lifted their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Citigroup lifted their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, HSBC upgraded 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

TE Connectivity Trading Down 0.8 %

NYSE TEL opened at $153.31 on Tuesday. The firm has a market cap of $45.74 billion, a PE ratio of 24.49, a P/E/G ratio of 2.11 and a beta of 1.32. The firm’s fifty day moving average is $147.27 and its two-hundred day moving average is $148.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 earnings per share. Analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity announced that its board has approved a share repurchase 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 reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are 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.