EP Wealth Advisors LLC Buys Shares of 1,840 TE Connectivity Ltd. (NYSE:TEL)

EP Wealth Advisors LLC purchased a new position in TE Connectivity Ltd. (NYSE:TEL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,840 shares of the electronics maker’s stock, valued at approximately $278,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC raised its stake in shares of TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after purchasing an additional 6,169 shares in the last quarter. Waverton Investment Management Ltd raised its position in TE Connectivity by 8.2% during the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after acquiring an additional 106,688 shares in the last quarter. Marshall Financial Group LLC acquired a new stake in TE Connectivity in the second quarter valued at approximately $995,000. Glenmede Trust Co. NA lifted its stake in TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after acquiring an additional 23,755 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of TE Connectivity by 21.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock worth $10,471,000 after purchasing an additional 12,140 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research report on Thursday, October 31st. Finally, Bank of America dropped their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $150.09 on Friday. The firm has a fifty day moving average price of $150.10 and a two-hundred day moving average price of $149.76. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two 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 company has a market cap of $44.90 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts’ consensus estimates of $1.95. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $1.78 EPS. Analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current year.

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