Apollon Wealth Management LLC Has $1.26 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Apollon Wealth Management LLC raised its position in TE Connectivity Ltd. (NYSE:TEL) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,346 shares of the electronics maker’s stock after buying an additional 223 shares during the quarter. Apollon Wealth Management LLC’s holdings in TE Connectivity were worth $1,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of TE Connectivity by 54.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after purchasing an additional 5,526,230 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after purchasing an additional 1,304,199 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TE Connectivity by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock worth $469,113,000 after purchasing an additional 223,842 shares in the last quarter. Cooke & Bieler LP grew its holdings in shares of TE Connectivity by 3.3% during the 2nd quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker’s stock worth $263,832,000 after purchasing an additional 55,777 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of TE Connectivity by 13.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,434,642 shares of the electronics maker’s stock worth $215,813,000 after purchasing an additional 166,339 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEL has been the topic of several analyst reports. Wells Fargo & Company reduced their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Vertical Research assumed coverage on TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price objective for the company. StockNews.com assumed coverage on TE Connectivity in a research report on Friday, November 8th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group dropped their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Price Performance

Shares of TEL opened at $153.26 on Friday. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year 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. The company has a market capitalization of $46.58 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 2.09 and a beta of 1.33. The business has a 50-day moving average of $148.28 and a 200-day moving average of $149.17.

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

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