Kestra Investment Management LLC Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Kestra Investment Management LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,744 shares of the electronics maker’s stock, valued at approximately $1,473,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Manning & Napier Advisors LLC purchased a new stake in shares of TE Connectivity in the second quarter valued at about $15,847,000. Venturi Wealth Management LLC raised its stake in 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. Marshall Financial Group LLC purchased a new stake in TE Connectivity during the 2nd quarter valued at approximately $995,000. Oppenheimer Asset Management Inc. grew its stake in shares of TE Connectivity by 21.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock valued at $10,471,000 after purchasing an additional 12,140 shares during the last quarter. Finally, Waverton Investment Management Ltd increased its holdings in shares of TE Connectivity by 8.2% in the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after purchasing an additional 106,688 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a report on Thursday, October 31st. Bank of America dropped their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. StockNews.com began coverage on shares of TE Connectivity in a research report on Sunday, November 24th. They issued a “buy” rating for the company. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group reduced their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity Trading Down 0.0 %

Shares of TEL stock opened at $151.12 on Friday. 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 quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $149.34 and a 200-day simple moving average of $149.72. The stock has a market cap of $45.21 billion, a P/E ratio of 14.71, a P/E/G ratio of 2.05 and a beta of 1.33.

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

TE Connectivity announced that its board has approved a share repurchase plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.