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

Empowered Funds LLC grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 26.3% in the third quarter, Holdings Channel.com reports. The fund owned 26,743 shares of the electronics maker’s stock after buying an additional 5,563 shares during the quarter. Empowered Funds LLC’s holdings in TE Connectivity were worth $4,038,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc boosted its position in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares during the period. Olistico Wealth LLC acquired a new position in shares of TE Connectivity in the second quarter worth about $30,000. Armstrong Advisory Group Inc. raised its holdings in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares during the period. Bank & Trust Co purchased a new stake in shares of TE Connectivity in the 2nd quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC boosted 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 purchasing an additional 245 shares during the period. 91.43% of the stock is owned by institutional investors.

TE Connectivity Price Performance

NYSE TEL opened at $148.35 on Monday. The firm has a market cap of $44.38 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 2.02 and a beta of 1.33. The stock’s 50-day moving average is $148.50 and its two-hundred day moving average is $149.36. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period in the previous year, the company earned $1.78 earnings per share. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts anticipate that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on TEL shares. The Goldman Sachs Group reduced their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Bank of America reduced their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Finally, Vertical Research began coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $159.55.

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.