Financial Counselors Inc. Grows Position in TE Connectivity Ltd. (NYSE:TEL)

Financial Counselors Inc. raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 151,878 shares of the electronics maker’s stock after purchasing an additional 4,131 shares during the period. Financial Counselors Inc.’s holdings in TE Connectivity were worth $22,932,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Simplicity Wealth LLC raised its stake in TE Connectivity by 2.7% in the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock worth $377,000 after buying an additional 67 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in shares of TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after purchasing an additional 68 shares during the last quarter. Optas LLC boosted its position in TE Connectivity by 4.2% during the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after purchasing an additional 71 shares in the last quarter. Gradient Investments LLC grew its stake in TE Connectivity by 2.2% in the second quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker’s stock valued at $542,000 after purchasing an additional 76 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its holdings in TE Connectivity by 3.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,297 shares of the electronics maker’s stock worth $346,000 after purchasing an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

TEL has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. The Goldman Sachs Group decreased their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research note on Thursday, October 31st. Finally, StockNews.com started coverage on TE Connectivity in a research note on Sunday. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $151.13 on Thursday. The company has a market cap of $45.21 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The company’s 50 day moving average is $149.24 and its 200 day moving average is $149.68. 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 issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. On average, sell-side analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity declared that its board has initiated a stock repurchase 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.