SG Americas Securities LLC Invests $779,000 in TE Connectivity Ltd. (NYSE:TEL)

SG Americas Securities LLC acquired a new stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,446 shares of the electronics maker's stock, valued at approximately $779,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Optas LLC raised its position in TE Connectivity by 4.2% during 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 last quarter. OLD National Bancorp IN grew its stake 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 in the last quarter. Metis Global Partners LLC grew its position 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 worth $1,475,000 after acquiring an additional 96 shares in the last quarter. Insigneo Advisory Services LLC boosted its stake in TE Connectivity by 2.4% in the third quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker's stock valued at $684,000 after acquiring an additional 108 shares during the period. Finally, Concurrent Investment Advisors LLC grew its position in shares of TE Connectivity by 6.4% during the third quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker's stock worth $295,000 after acquiring an additional 117 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TEL has been the topic of several research analyst reports. HSBC upgraded shares of TE Connectivity from a "reduce" rating to a "hold" rating and set a $166.00 price objective on the stock in a research report on Thursday, January 23rd. Robert W. Baird boosted their price target on TE Connectivity from $162.00 to $168.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. StockNews.com raised TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 18th. Citigroup boosted their price objective on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Finally, Hsbc Global Res upgraded shares of TE Connectivity from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of "Moderate Buy" and an average price target of $167.00.

TE Connectivity Stock Up 1.4 %

Shares of TEL stock traded up $2.10 during trading hours on Thursday, hitting $149.81. 1,618,635 shares of the company's stock traded hands, compared to its average volume of 1,775,565. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The stock's fifty day simple moving average is $147.68 and its two-hundred day simple moving average is $148.75. The stock has a market cap of $44.71 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.12 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business posted $1.84 earnings per share. The firm's quarterly revenue was up .1% compared to the same quarter last year. On average, analysts expect that TE Connectivity Ltd. will post 8.1 EPS for the current year.

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

Insider Buying and Selling

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

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.