180 Wealth Advisors LLC bought a new position in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) during the fourth quarter, HoldingsChannel reports. The fund bought 1,476 shares of the electronics maker’s stock, valued at approximately $211,000.
A number of other institutional investors have also modified their holdings of the business. Armstrong Advisory Group Inc. boosted its stake in TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC boosted its stake in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after buying an additional 245 shares during the period. Hilltop National Bank purchased a new position in shares of TE Connectivity during the fourth quarter worth about $55,000. Vestor Capital LLC acquired a new position in TE Connectivity in the 3rd quarter valued at about $66,000. Finally, Ashton Thomas Securities LLC acquired a new stake in TE Connectivity during the 3rd quarter worth approximately $75,000. 91.43% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
TEL has been the subject of a number of recent research reports. The Goldman Sachs Group decreased 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. Bank of America decreased their price objective 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 decreased their price objective on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $160.70.
TE Connectivity Stock Performance
Shares of TEL stock opened at $143.67 on Thursday. The company has a market cap of $42.98 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. The stock has a 50 day simple moving average of $148.33 and a 200-day simple moving average of $148.88. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. 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 (NYSE:TEL – Get Free Report) last released its quarterly earnings data 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 firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the business posted $1.78 EPS. TE Connectivity’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current year.
TE Connectivity declared that its board has authorized a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
TE Connectivity Company 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.
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