TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Empowered Funds LLC

Empowered Funds LLC increased its position in TE Connectivity Ltd. (NYSE:TEL) by 66.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 44,468 shares of the electronics maker’s stock after acquiring an additional 17,725 shares during the period. Empowered Funds LLC’s holdings in TE Connectivity were worth $6,358,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after purchasing an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after buying an additional 23,755 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after acquiring an additional 6,169 shares during the last quarter. Waverton Investment Management Ltd grew its holdings in shares of TE Connectivity by 8.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after acquiring an additional 106,688 shares during the last quarter. Finally, Meyer Handelman Co. raised its position in shares of TE Connectivity by 9.9% during the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock worth $14,531,000 after purchasing an additional 9,175 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TEL shares. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target for the company in a research report on Thursday, January 23rd. Bank of America lifted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird increased their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Trading Up 1.9 %

NYSE:TEL opened at $149.71 on Tuesday. The company has a market capitalization of $44.66 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.01 and a beta of 1.32. The stock’s 50 day moving average price is $147.05 and its 200 day moving average price is $148.29. 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 52 week low of $137.61 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates 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%. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 EPS. On average, research analysts forecast that TE Connectivity Ltd. will post 7.95 EPS for the current fiscal year.

TE Connectivity declared that its board has initiated a share repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign 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.