Vestcor Inc Buys 9,154 Shares of TE Connectivity Ltd. (NYSE:TEL)

Vestcor Inc raised its stake in TE Connectivity Ltd. (NYSE:TEL) by 107.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,690 shares of the electronics maker’s stock after acquiring an additional 9,154 shares during the quarter. Vestcor Inc’s holdings in TE Connectivity were worth $2,671,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Armstrong Advisory Group Inc. raised its holdings 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 acquiring an additional 150 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after buying an additional 245 shares in the last quarter. Family Firm Inc. acquired a new position in shares of TE Connectivity during the 2nd quarter worth $43,000. Isthmus Partners LLC acquired a new position in shares of TE Connectivity during the 2nd quarter worth $45,000. Finally, MCF Advisors LLC raised its holdings in shares of TE Connectivity by 2,745.5% during the 2nd quarter. MCF Advisors LLC now owns 313 shares of the electronics maker’s stock worth $47,000 after buying an additional 302 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Down 0.8 %

NYSE TEL opened at $150.34 on Wednesday. The business’s 50-day moving average price is $149.76 and its two-hundred day moving average price is $149.76. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. The firm has a market capitalization of $44.97 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 2.07 and a beta of 1.32. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

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

TE Connectivity announced that its Board of Directors has approved 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 reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TEL shares. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Bank of America lowered their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Wells Fargo & Company lowered their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. Finally, The Goldman Sachs Group lowered their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $159.55.

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.