Sanctuary Advisors LLC Has $10.01 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Sanctuary Advisors LLC increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 124.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,749 shares of the electronics maker's stock after purchasing an additional 36,423 shares during the quarter. Sanctuary Advisors LLC's holdings in TE Connectivity were worth $10,011,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Optas LLC increased its stake in shares of TE Connectivity by 4.2% in the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker's stock valued at $268,000 after buying an additional 71 shares during the period. Gradient Investments LLC increased its position in TE Connectivity by 2.2% in the second quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker's stock worth $542,000 after purchasing an additional 76 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in TE Connectivity by 3.4% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 2,297 shares of the electronics maker's stock worth $346,000 after purchasing an additional 76 shares during the last quarter. OLD National Bancorp IN lifted its position in TE Connectivity by 3.6% during the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker's stock valued at $374,000 after purchasing an additional 85 shares during the period. Finally, Metis Global Partners LLC boosted its stake in shares of TE Connectivity by 1.0% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 91.43% of the company's stock.

Analyst Ratings Changes

TEL has been the subject of a number of recent research reports. Wolfe Research raised shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. The Goldman Sachs Group cut their price target on TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. Hsbc Global Res cut TE Connectivity from a "hold" rating to a "moderate sell" rating in a research note on Thursday, October 31st. HSBC lowered TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 target price on the stock. in a research note on Thursday, October 31st. Finally, Bank of America lowered their price target on TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's 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 Down 0.8 %

Shares of NYSE:TEL traded down $1.23 during midday trading on Friday, reaching $150.09. 1,045,879 shares of the company were exchanged, compared to its average volume of 1,793,312. The firm has a market cap of $44.90 billion, a PE ratio of 14.61, a P/E/G ratio of 2.04 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The stock has a fifty day simple moving average of $150.10 and a two-hundred day simple moving average of $149.76.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS 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 company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The company's quarterly revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has approved a share buyback program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership 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.