D.A. Davidson & CO. Increases Holdings in TE Connectivity Ltd. (NYSE:TEL)

D.A. Davidson & CO. increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,502 shares of the electronics maker’s stock after buying an additional 413 shares during the quarter. D.A. Davidson & CO.’s holdings in TE Connectivity were worth $3,100,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after buying an additional 128 shares in the last quarter. Olistico Wealth LLC purchased a new position in TE Connectivity during the second quarter worth approximately $30,000. Armstrong Advisory Group Inc. increased its stake in TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Bank & Trust Co acquired a new stake in TE Connectivity during the second quarter worth $35,000. Finally, Wolff Wiese Magana LLC increased its stake in TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TEL. Bank of America dropped their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company dropped their price objective on 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. StockNews.com began coverage on TE Connectivity in a research note on Sunday, November 24th. They issued a “buy” rating for the company. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Finally, Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Trading Up 0.9 %

TEL opened at $151.15 on Friday. The stock has a market capitalization of $45.22 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 2.07 and a beta of 1.33. 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 business has a fifty day moving average price of $149.28 and a 200 day moving average price of $149.69. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.95. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 EPS. Sell-side analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity announced that its Board of Directors has initiated a share buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors 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.