Allworth Financial LP Increases Stake in TE Connectivity Ltd. (NYSE:TEL)

Allworth Financial LP raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 27.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,444 shares of the electronics maker’s stock after acquiring an additional 313 shares during the quarter. Allworth Financial LP’s holdings in TE Connectivity were worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Principal Securities Inc. grew its holdings in TE Connectivity by 8.8% during the fourth quarter. Principal Securities Inc. now owns 3,362 shares of the electronics maker’s stock valued at $481,000 after purchasing an additional 271 shares during the period. Congress Asset Management Co. grew its stake in shares of TE Connectivity by 3.5% during the 4th quarter. Congress Asset Management Co. now owns 97,044 shares of the electronics maker’s stock valued at $13,874,000 after acquiring an additional 3,309 shares during the period. Guyasuta Investment Advisors Inc. increased its holdings in TE Connectivity by 1.1% in the 4th quarter. Guyasuta Investment Advisors Inc. now owns 288,273 shares of the electronics maker’s stock worth $41,214,000 after acquiring an additional 3,184 shares in the last quarter. Manchester Capital Management LLC raised its stake in TE Connectivity by 10.3% during the 4th quarter. Manchester Capital Management LLC now owns 2,184 shares of the electronics maker’s stock worth $312,000 after acquiring an additional 204 shares during the period. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in TE Connectivity by 64.0% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 13,702 shares of the electronics maker’s stock valued at $1,959,000 after purchasing an additional 5,346 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird upped their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, TE Connectivity has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Stock Performance

NYSE:TEL opened at $154.55 on Friday. The company has a fifty day moving average of $147.20 and a two-hundred day moving average of $148.44. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two week high of $159.98. The stock has a market capitalization of $46.11 billion, a PE ratio of 24.69, a P/E/G ratio of 2.11 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 EPS. As a group, research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity announced that its board has authorized a share buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are 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.