Carnegie Investment Counsel Grows Holdings in TE Connectivity Ltd. (NYSE:TEL)

Carnegie Investment Counsel boosted its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 119,041 shares of the electronics maker's stock after acquiring an additional 4,913 shares during the period. Carnegie Investment Counsel's holdings in TE Connectivity were worth $17,019,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TEL. Pinnacle Bancorp Inc. purchased a new position in shares of TE Connectivity during the fourth quarter worth $26,000. Armstrong Advisory Group Inc. boosted its holdings in TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock valued at $34,000 after acquiring an additional 150 shares during the period. Wolff Wiese Magana LLC grew its position in TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock valued at $39,000 after acquiring an additional 245 shares in the last quarter. Hilltop National Bank purchased a new stake in TE Connectivity during the fourth quarter worth about $55,000. Finally, Vestor Capital LLC acquired a new stake in shares of TE Connectivity during the third quarter worth about $66,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TEL shares. Wells Fargo & Company dropped their price objective on shares of TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating for the company in a report on Monday, December 16th. Hsbc Global Res lowered TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. StockNews.com upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 18th. HSBC downgraded TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target on the stock. in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their price objective on TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $160.70.

TE Connectivity Stock Up 1.8 %

TE Connectivity stock traded up $2.60 during mid-day trading on Friday, hitting $146.29. The company had a trading volume of 4,102,611 shares, compared to its average volume of 1,694,428. 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 1 year low of $128.91 and a 1 year high of $159.98. The business has a fifty day moving average of $147.88 and a 200 day moving average of $148.81. The stock has a market cap of $43.76 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.91 and a beta of 1.32.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its 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 net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the firm posted $1.78 EPS. The company's revenue was up .8% on a year-over-year basis. On average, sell-side analysts expect 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 initiated a share repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

TE Connectivity 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.