Fifth Third Wealth Advisors LLC Buys 378 Shares of TE Connectivity Ltd. (NYSE:TEL)

Fifth Third Wealth Advisors LLC boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 8.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,767 shares of the electronics maker’s stock after acquiring an additional 378 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in TE Connectivity were worth $682,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TEL. Ameriprise Financial Inc. lifted its stake in shares of TE Connectivity by 26.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after acquiring an additional 1,304,199 shares during the last quarter. Nordea Investment Management AB bought a new position in TE Connectivity in the fourth quarter valued at about $149,211,000. Franklin Resources Inc. boosted its stake in shares of TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of TE Connectivity by 238.4% in the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after buying an additional 506,754 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TEL. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Bank of America reduced their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research report on Thursday, October 31st. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $160.70.

TE Connectivity Trading Up 0.1 %

Shares of TEL stock opened at $143.64 on Friday. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. 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 has a 50 day simple moving average of $148.11 and a two-hundred day simple moving average of $148.84. The company has a market cap of $42.97 billion, a P/E ratio of 13.99, a PEG ratio of 1.91 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released 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. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. TE Connectivity’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 EPS. Research analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

About TE Connectivity

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.