Curi RMB Capital LLC Purchases 2,026 Shares of TE Connectivity Ltd. (NYSE:TEL)

Curi RMB Capital LLC raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 36.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,556 shares of the electronics maker’s stock after buying an additional 2,026 shares during the quarter. Curi RMB Capital LLC’s holdings in TE Connectivity were worth $1,141,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TEL. Versant Capital Management Inc increased its position in shares of TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 128 shares during the last quarter. Olistico Wealth LLC purchased a new stake in shares of TE Connectivity during the second quarter valued at approximately $30,000. Armstrong Advisory Group Inc. increased its position in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of TE Connectivity during the second quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC increased its position in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 245 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Down 3.2 %

Shares of NYSE:TEL opened at $148.35 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The firm has a market capitalization of $44.38 billion, a P/E ratio of 14.44, a P/E/G ratio of 2.10 and a beta of 1.33. The stock has a 50 day moving average price of $148.40 and a 200-day moving average price of $149.20. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 EPS. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on TEL shares. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Truist Financial upped their price objective on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Vertical Research began coverage on TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective for the company. Finally, Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $159.55.

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.