Transcend Capital Advisors LLC Increases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Transcend Capital Advisors LLC lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 23,251 shares of the electronics maker’s stock after buying an additional 1,232 shares during the period. Transcend Capital Advisors LLC’s holdings in TE Connectivity were worth $3,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TEL. Creative Planning lifted its stake in shares of TE Connectivity by 3.0% during the third quarter. Creative Planning now owns 42,019 shares of the electronics maker’s stock valued at $6,345,000 after buying an additional 1,237 shares during the period. Blue Trust Inc. lifted its stake in shares of TE Connectivity by 147.7% during the third quarter. Blue Trust Inc. now owns 1,734 shares of the electronics maker’s stock valued at $261,000 after buying an additional 1,034 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of TE Connectivity by 49.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 67,351 shares of the electronics maker’s stock valued at $10,169,000 after buying an additional 22,164 shares during the period. Foundations Investment Advisors LLC purchased a new position in shares of TE Connectivity during the third quarter valued at approximately $202,000. Finally, Signaturefd LLC lifted its stake in shares of TE Connectivity by 3.3% during the third quarter. Signaturefd LLC now owns 7,150 shares of the electronics maker’s stock valued at $1,080,000 after buying an additional 228 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TEL. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Bank of America increased their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Robert W. Baird increased their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $167.00.

TE Connectivity Price Performance

TEL opened at $155.65 on Friday. The company has a fifty day simple moving average of $147.11 and a 200 day simple moving average of $148.32. The firm has a market cap of $46.44 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.12 and a beta of 1.32. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26.

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 during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the business earned $1.84 EPS. Equities research analysts expect that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a stock buyback program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

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.