Transcend Capital Advisors LLC Grows Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Transcend Capital Advisors LLC lifted its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,251 shares of the electronics maker’s stock after purchasing an additional 1,232 shares during the period. Transcend Capital Advisors LLC’s holdings in TE Connectivity were worth $3,324,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity during the 4th quarter worth $26,000. Golden State Wealth Management LLC purchased a new stake in TE Connectivity in the fourth quarter valued at $44,000. Hilltop National Bank purchased a new stake in TE Connectivity in the fourth quarter valued at $55,000. Webster Bank N. A. purchased a new stake in TE Connectivity in the fourth quarter valued at $61,000. Finally, Vestor Capital LLC purchased a new stake in TE Connectivity in the third quarter valued at $66,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were 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. This represents 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 accessible through the SEC website. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TEL has been the subject of a number of research reports. Robert W. Baird boosted their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Bank of America boosted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Citigroup upped their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Seven equities research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity Trading Down 0.3 %

Shares of TE Connectivity stock opened at $155.65 on Friday. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company’s 50-day simple moving average is $147.11 and its 200-day simple moving average is $148.32. The firm has a market cap of $46.44 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the business posted $1.84 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors 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.