TE Connectivity Ltd. (NYSE:TEL) Stock Position Raised by Independent Advisor Alliance

Independent Advisor Alliance boosted its holdings in TE Connectivity Ltd. (NYSE:TEL) by 48.9% during the third quarter, HoldingsChannel.com reports. The fund owned 7,889 shares of the electronics maker’s stock after acquiring an additional 2,592 shares during the period. Independent Advisor Alliance’s holdings in TE Connectivity were worth $1,191,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TEL. Versant Capital Management Inc lifted its holdings in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new stake in TE Connectivity in the second quarter worth $30,000. Armstrong Advisory Group Inc. lifted its stake in TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after buying an additional 150 shares during the last quarter. Bank & Trust Co bought a new position in shares of TE Connectivity during the second quarter worth about $35,000. Finally, Wolff Wiese Magana LLC grew its position in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 245 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

Shares of TEL opened at $149.84 on Wednesday. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The stock has a market capitalization of $44.83 billion, a P/E ratio of 14.59, a P/E/G ratio of 2.07 and a beta of 1.33. The firm’s 50 day moving average is $149.14 and its 200-day moving average is $149.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting 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 return on equity of 18.48% and a net margin of 20.15%. The firm’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. Equities research analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TEL shares. Wells Fargo & Company reduced their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. StockNews.com assumed coverage on TE Connectivity in a research report on Sunday. They issued a “buy” rating on the stock. The Goldman Sachs Group reduced their price target 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. Finally, HSBC lowered 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $159.55.

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.