Avestar Capital LLC Boosts Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Avestar Capital LLC boosted its position in TE Connectivity Ltd. (NYSE:TEL) by 9.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,690 shares of the electronics maker’s stock after buying an additional 330 shares during the quarter. Avestar Capital LLC’s holdings in TE Connectivity were worth $528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Optas LLC grew its stake in shares of TE Connectivity by 4.2% during the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after acquiring an additional 71 shares during the period. OLD National Bancorp IN boosted its position in TE Connectivity by 3.6% during the third quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock worth $374,000 after purchasing an additional 85 shares during the period. Metis Global Partners LLC increased its stake in shares of TE Connectivity by 1.0% in the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock worth $1,475,000 after purchasing an additional 96 shares in the last quarter. Insigneo Advisory Services LLC raised its position in shares of TE Connectivity by 2.4% in the third quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock valued at $684,000 after purchasing an additional 108 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of TE Connectivity by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock valued at $295,000 after buying an additional 117 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TEL shares. Citigroup lifted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. HSBC upgraded 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 raised their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company upped their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Finally, StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Trading Up 4.6 %

Shares of TEL opened at $153.27 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The company has a market capitalization of $45.73 billion, a P/E ratio of 24.48, a P/E/G ratio of 2.01 and a beta of 1.32. The firm’s 50 day simple moving average is $146.76 and its 200 day simple moving average is $148.19.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm posted $1.84 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Sell-side analysts forecast that TE Connectivity Ltd. will post 7.95 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

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.