Secured Retirement Advisors LLC Takes Position in TE Connectivity Ltd. (NYSE:TEL)

Secured Retirement Advisors LLC purchased a new position in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,536 shares of the electronics maker's stock, valued at approximately $649,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its stake in TE Connectivity by 2.1% in the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock worth $1,940,615,000 after acquiring an additional 268,837 shares in the last quarter. Geode Capital Management LLC increased its holdings in TE Connectivity by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock worth $899,681,000 after purchasing an additional 75,658 shares during the period. EdgePoint Investment Group Inc. raised its position in TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock valued at $508,481,000 after purchasing an additional 694,917 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker's stock worth $445,603,000 after buying an additional 712,228 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of TE Connectivity by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker's stock worth $266,059,000 after buying an additional 9,864 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TEL. Citigroup lifted their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, January 22nd. HSBC raised shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective for the company in a research note on Thursday, January 23rd. Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company's stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.90% of the company's stock.

TE Connectivity Stock Up 1.1 %

Shares of TEL traded up $1.68 during mid-day trading on Wednesday, hitting $156.10. 1,523,818 shares of the company traded hands, compared to its average volume of 1,641,479. The company has a market capitalization of $46.57 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.07 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $146.90 and a 200 day moving average of $148.21. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating 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 net margin of 12.10% and a return on equity of 18.82%. TE Connectivity's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 EPS. Equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 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.

About TE Connectivity

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.