TE Connectivity Ltd. (NYSE:TEL) Shares Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC increased its position in TE Connectivity Ltd. (NYSE:TEL) by 2.6% during the third quarter, HoldingsChannel.com reports. The fund owned 13,290 shares of the electronics maker’s stock after acquiring an additional 342 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in TE Connectivity were worth $2,007,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of TEL. Versant Capital Management Inc grew its holdings in TE Connectivity by 209.8% in the second 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 last quarter. Olistico Wealth LLC acquired a new stake in TE Connectivity in the 2nd quarter valued at about $30,000. Armstrong Advisory Group Inc. increased its holdings in TE Connectivity by 208.3% during the 3rd 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 in the last quarter. Bank & Trust Co acquired a new position in TE Connectivity during the second quarter worth about $35,000. Finally, Wolff Wiese Magana LLC lifted its position in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 245 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. Robert W. Baird raised their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Truist Financial boosted their price target on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a report on Thursday, October 31st. Finally, StockNews.com initiated coverage on shares of TE Connectivity in a research report on Friday, November 8th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Stock Performance

NYSE:TEL opened at $153.37 on Wednesday. TE Connectivity Ltd. has a 1-year low of $124.95 and a 1-year high of $159.98. The stock has a market cap of $46.61 billion, a P/E ratio of 14.93, a PEG ratio of 2.11 and a beta of 1.33. 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 firm has a 50-day moving average of $148.04 and a two-hundred day moving average of $149.04.

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, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the firm earned $1.78 EPS. TE Connectivity’s quarterly revenue was up .8% on a year-over-year basis. On average, research analysts expect that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

TE Connectivity announced that its board has initiated a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors 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.