Wilmington Savings Fund Society FSB Has $2.53 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

Wilmington Savings Fund Society FSB boosted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 286.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,784 shares of the electronics maker’s stock after buying an additional 12,444 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in TE Connectivity were worth $2,534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in TE Connectivity by 13.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,504 shares of the electronics maker’s stock worth $4,438,000 after buying an additional 3,451 shares during the period. Blue Trust Inc. increased its position in TE Connectivity by 48.6% during the second quarter. Blue Trust Inc. now owns 700 shares of the electronics maker’s stock worth $102,000 after buying an additional 229 shares during the last quarter. Gradient Investments LLC raised its stake in TE Connectivity by 2.2% in the second quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker’s stock valued at $542,000 after buying an additional 76 shares during the period. Everpar Advisors LLC bought a new position in shares of TE Connectivity during the 2nd quarter worth approximately $240,000. Finally, Marshall Financial Group LLC bought a new position in shares of TE Connectivity in the second quarter valued at about $995,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Down 0.8 %

TEL opened at $150.09 on Friday. The stock has a market cap of $44.90 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. 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’s fifty day moving average is $150.10 and its 200 day moving average is $149.76. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two 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 business had revenue of $4.07 billion during 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 revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 EPS. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity declared that its board has approved a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

TEL has been the subject of several recent research reports. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st. Bank of America decreased their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company reduced their target price 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. Finally, The Goldman Sachs Group lowered their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity 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.