Congress Asset Management Co. raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,044 shares of the electronics maker's stock after buying an additional 3,309 shares during the quarter. Congress Asset Management Co.'s holdings in TE Connectivity were worth $13,874,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of TEL. Pinnacle Bancorp Inc. acquired a new position in shares of TE Connectivity during the 4th quarter worth about $26,000. Golden State Wealth Management LLC acquired a new position in shares of TE Connectivity during the 4th quarter worth about $44,000. Hilltop National Bank acquired a new position in shares of TE Connectivity during the 4th quarter worth about $55,000. Webster Bank N. A. acquired a new position in shares of TE Connectivity in the 4th quarter valued at approximately $61,000. Finally, R Squared Ltd acquired a new position in shares of TE Connectivity in the 4th quarter valued at approximately $64,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.
TE Connectivity Stock Up 1.1 %
Shares of TE Connectivity stock traded up $1.68 on Wednesday, reaching $156.10. 1,523,818 shares of the company were exchanged, compared to its average volume of 1,641,479. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company has a market capitalization of $46.57 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 2.07 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $147.02 and a 200 day moving average of $148.27.
TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm's revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.84 EPS. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.
TE Connectivity declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding 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 generally an indication that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling
In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares of the company's stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on TEL. Bank of America boosted their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, January 23rd. Robert W. Baird boosted their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. StockNews.com upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. HSBC upgraded TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Finally, Citigroup boosted their target price on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $167.00.
View Our Latest Report on TEL
TE Connectivity Profile
(
Free Report)
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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