Asio Capital LLC Boosts Position in TE Connectivity Ltd. (NYSE:TEL)

Asio Capital LLC grew its stake in TE Connectivity Ltd. (NYSE:TEL) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,303 shares of the electronics maker’s stock after acquiring an additional 1,411 shares during the period. Asio Capital LLC’s holdings in TE Connectivity were worth $3,618,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TEL. Optas LLC lifted its stake in TE Connectivity by 4.2% in the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after acquiring an additional 71 shares during the period. OLD National Bancorp IN lifted its position in shares of TE Connectivity by 3.6% in the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock worth $374,000 after purchasing an additional 85 shares during the period. Metis Global Partners LLC boosted its stake in shares of TE Connectivity by 1.0% during the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after purchasing an additional 96 shares in the last quarter. Insigneo Advisory Services LLC boosted its stake in shares of TE Connectivity by 2.4% during the third quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock valued at $684,000 after purchasing an additional 108 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in TE Connectivity by 6.4% during the third quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock valued at $295,000 after buying an additional 117 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America raised their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group lowered their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

TE Connectivity Price Performance

Shares of TEL opened at $154.64 on Friday. The firm has a market capitalization of $46.16 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.08. The company’s fifty day moving average price is $147.62 and its 200-day moving average price is $148.88. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3,916,310.63 billion. During the same period in the prior year, the company earned $1.84 earnings per share. The company’s revenue was up .1% on a year-over-year basis. On average, equities research analysts predict that TE Connectivity Ltd. will post 8.1 EPS for the current year.

TE Connectivity declared that its Board of Directors has initiated a stock buyback 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 usually an indication 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.