Summit Trail Advisors LLC Has $665,000 Holdings in TE Connectivity Ltd. (NYSE:TEL)

Summit Trail Advisors LLC raised its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 9.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,404 shares of the electronics maker’s stock after acquiring an additional 364 shares during the quarter. Summit Trail Advisors LLC’s holdings in TE Connectivity were worth $665,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in TEL. Ameriprise Financial Inc. grew its position in TE Connectivity by 26.2% during the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after buying an additional 1,304,199 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of TE Connectivity by 238.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after purchasing an additional 506,754 shares in the last quarter. Bank of Montreal Can increased its position in shares of TE Connectivity by 43.0% during the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after purchasing an additional 347,315 shares during the period. Toronto Dominion Bank raised its stake in shares of TE Connectivity by 141.3% in the second quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock valued at $70,445,000 after purchasing an additional 274,206 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its position in TE Connectivity by 982.6% in the third quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker’s stock worth $38,602,000 after purchasing an additional 232,044 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company dropped 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 research note on Friday, September 20th. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a research report on Thursday, October 31st. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. StockNews.com initiated coverage on TE Connectivity in a report on Sunday. They issued a “buy” rating for the company. Finally, Bank of America decreased their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Price Performance

Shares of TEL stock opened at $152.67 on Tuesday. TE Connectivity Ltd. has a 52 week low of $128.52 and a 52 week high of $159.98. The stock has a market capitalization of $45.67 billion, a PE ratio of 14.87, a PEG ratio of 2.07 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The stock’s fifty day moving average is $149.10 and its 200-day moving average is $149.64.

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

TE Connectivity declared that its board has initiated a stock repurchase program on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

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.