GAMMA Investing LLC Acquires 644 Shares of TE Connectivity Ltd. (NYSE:TEL)

GAMMA Investing LLC lifted its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 25.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,193 shares of the electronics maker’s stock after acquiring an additional 644 shares during the quarter. GAMMA Investing LLC’s holdings in TE Connectivity were worth $457,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. TD Asset Management Inc grew its position in shares of TE Connectivity by 29.5% in the 2nd quarter. TD Asset Management Inc now owns 201,197 shares of the electronics maker’s stock valued at $30,266,000 after buying an additional 45,851 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of TE Connectivity by 18.0% during the 2nd quarter. National Bank of Canada FI now owns 92,583 shares of the electronics maker’s stock worth $13,742,000 after buying an additional 14,090 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of TE Connectivity by 45.3% during the 2nd quarter. Private Advisor Group LLC now owns 15,549 shares of the electronics maker’s stock valued at $2,339,000 after acquiring an additional 4,850 shares during the period. Savant Capital LLC raised its stake in TE Connectivity by 6.1% during the 2nd quarter. Savant Capital LLC now owns 15,155 shares of the electronics maker’s stock worth $2,280,000 after buying an additional 865 shares during the period. Finally, Acadian Asset Management LLC grew its stake in TE Connectivity by 1,919.7% in the second quarter. Acadian Asset Management LLC now owns 95,469 shares of the electronics maker’s stock valued at $14,351,000 after acquiring an additional 90,742 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 1.3 %

TEL opened at $142.40 on Monday. The company has a 50 day moving average of $149.39 and a 200 day moving average of $149.24. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. The company has a market cap of $42.60 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting the consensus estimate 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 analysts’ expectations of $4 billion. During the same period in the previous year, the business earned $1.78 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, sell-side analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current year.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Bank of America decreased their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a research note on Monday, December 16th. Finally, The Goldman Sachs Group lowered their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus target price of $160.70.

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.