Salvus Wealth Management LLC Invests $580,000 in TE Connectivity Ltd. (NYSE:TEL)

Salvus Wealth Management LLC acquired a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,054 shares of the electronics maker’s stock, valued at approximately $580,000.

Other hedge funds also recently bought and sold shares of the company. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $26,000. Armstrong Advisory Group Inc. boosted its position in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after buying an additional 150 shares during the period. Wolff Wiese Magana LLC grew its stake in TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 245 shares in the last quarter. Hilltop National Bank purchased a new position in shares of TE Connectivity during the fourth quarter worth approximately $55,000. Finally, Vestor Capital LLC bought a new stake in shares of TE Connectivity during the third quarter valued at approximately $66,000. Institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research note on Thursday, October 31st. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. The Goldman Sachs Group cut their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Finally, Bank of America lowered their price target 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.70.

TE Connectivity Stock Performance

Shares of TEL stock opened at $143.64 on Friday. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The business’s fifty day simple moving average is $148.11 and its 200-day simple moving average is $148.84. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The company has a market cap of $42.97 billion, a PE ratio of 13.99, a PEG ratio of 1.91 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period last year, the business posted $1.78 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

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