C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires Shares of 13,685 TE Connectivity Ltd. (NYSE:TEL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 13,685 shares of the electronics maker’s stock, valued at approximately $1,957,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in shares of TE Connectivity during the 3rd quarter worth about $235,000. Creative Planning lifted its stake in TE Connectivity by 3.0% during the third quarter. Creative Planning now owns 42,019 shares of the electronics maker’s stock worth $6,345,000 after purchasing an additional 1,237 shares during the last quarter. Swedbank AB boosted its holdings in TE Connectivity by 1.0% in the third quarter. Swedbank AB now owns 70,792 shares of the electronics maker’s stock valued at $10,689,000 after purchasing an additional 684 shares in the last quarter. SeaCrest Wealth Management LLC increased its stake in TE Connectivity by 5.7% in the third quarter. SeaCrest Wealth Management LLC now owns 3,343 shares of the electronics maker’s stock valued at $505,000 after purchasing an additional 180 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in TE Connectivity by 8.4% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 21,459 shares of the electronics maker’s stock valued at $3,240,000 after purchasing an additional 1,671 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $146.51 on Thursday. The stock has a fifty day moving average price of $146.90 and a 200 day moving average price of $148.21. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. The company has a market cap of $43.71 billion, a PE ratio of 23.40, a P/E/G ratio of 2.01 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $1.84 EPS. Sell-side analysts forecast that TE Connectivity Ltd. will post 7.95 EPS for the current year.

TE Connectivity announced 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 purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TEL. Bank of America upped their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird boosted their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $167.00.

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.