TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Algert Global LLC

Algert Global LLC increased its stake in TE Connectivity Ltd. (NYSE:TEL) by 17.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,857 shares of the electronics maker’s stock after purchasing an additional 560 shares during the quarter. Algert Global LLC’s holdings in TE Connectivity were worth $582,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new position in shares of TE Connectivity in the second quarter valued at approximately $15,847,000. Venturi Wealth Management LLC increased its position in shares of 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 purchasing an additional 6,169 shares during the period. Marshall Financial Group LLC bought a new stake in shares of TE Connectivity in the 2nd quarter worth $995,000. Oppenheimer Asset Management Inc. boosted its stake in TE Connectivity by 21.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock valued at $10,471,000 after buying an additional 12,140 shares in the last quarter. Finally, Waverton Investment Management Ltd grew its holdings in TE Connectivity by 8.2% during the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after acquiring an additional 106,688 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TEL. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. The Goldman Sachs Group reduced their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research note on Thursday, October 31st. Finally, Wells Fargo & Company reduced their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Stock Performance

TEL stock opened at $151.12 on Friday. The firm has a 50 day simple moving average of $149.34 and a 200 day simple moving average of $149.72. TE Connectivity Ltd. has a 52 week low of $128.52 and a 52 week high of $159.98. 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. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 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 business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same period in the previous year, the company posted $1.78 EPS. TE Connectivity’s revenue was up .8% on a year-over-year basis. Research analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

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

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.