D.A. Davidson & CO. Boosts Stake in TE Connectivity Ltd. (NYSE:TEL)

D.A. Davidson & CO. increased its position in TE Connectivity Ltd. (NYSE:TEL) by 2.1% in the 3rd quarter, Holdings Channel reports. The firm owned 20,502 shares of the electronics maker’s stock after buying an additional 413 shares during the period. D.A. Davidson & CO.’s holdings in TE Connectivity were worth $3,100,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc increased its position in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 128 shares during the period. Olistico Wealth LLC purchased a new stake in TE Connectivity in the 2nd quarter valued at approximately $30,000. Armstrong Advisory Group Inc. lifted its stake in TE Connectivity by 208.3% in the 3rd 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 in the last quarter. Bank & Trust Co purchased a new stake in TE Connectivity in the 2nd quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC lifted its stake 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 buying an additional 245 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 0.9 %

Shares of TE Connectivity stock opened at $151.15 on Friday. The business has a 50-day moving average of $149.28 and a 200-day moving average of $149.69. 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 capitalization of $45.22 billion, a PE ratio of 14.72, a P/E/G ratio of 2.07 and a beta of 1.33. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter last year, the company posted $1.78 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of recent analyst reports. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Wells Fargo & Company reduced their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st. Finally, StockNews.com started coverage on TE Connectivity in a research report on Sunday, November 24th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.