Kovitz Investment Group Partners LLC Has $2.01 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Kovitz Investment Group Partners LLC grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 57.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,332 shares of the electronics maker's stock after acquiring an additional 4,862 shares during the period. Kovitz Investment Group Partners LLC's holdings in TE Connectivity were worth $2,013,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Wedmont Private Capital raised its stake in TE Connectivity by 6.9% in the 2nd quarter. Wedmont Private Capital now owns 1,835 shares of the electronics maker's stock worth $286,000 after purchasing an additional 118 shares in the last quarter. NorthCrest Asset Manangement LLC increased its stake in TE Connectivity by 3.6% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 28,221 shares of the electronics maker's stock worth $4,245,000 after acquiring an additional 969 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of TE Connectivity by 13.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,504 shares of the electronics maker's stock valued at $4,438,000 after acquiring an additional 3,451 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in shares of TE Connectivity by 2.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 41,150 shares of the electronics maker's stock worth $6,190,000 after purchasing an additional 853 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of TE Connectivity by 1.3% in the second quarter. AdvisorNet Financial Inc now owns 13,297 shares of the electronics maker's stock worth $2,000,000 after purchasing an additional 173 shares during the period. Institutional investors own 91.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TEL shares. StockNews.com upgraded shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 4th. Hsbc Global Res cut shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a research note on Thursday, October 31st. Wolfe Research upgraded shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research report on Thursday, September 5th. The Goldman Sachs Group reduced their target price on TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a report on Tuesday, October 1st. 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 report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $159.55.

TE Connectivity Trading Down 0.8 %

NYSE TEL traded down $1.16 during trading hours on Tuesday, reaching $150.34. The company's stock had a trading volume of 1,657,749 shares, compared to its average volume of 1,799,880. TE Connectivity Ltd. has a 52 week low of $128.52 and a 52 week high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The stock has a market cap of $44.97 billion, a P/E ratio of 14.63, a P/E/G ratio of 2.07 and a beta of 1.32. The firm has a fifty day simple moving average of $149.76 and a 200-day simple moving average of $149.76.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The company had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. TE Connectivity's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Equities analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

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