Fiduciary Alliance LLC Purchases Shares of 8,986 TE Connectivity Ltd. (NYSE:TEL)

Fiduciary Alliance LLC acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,986 shares of the electronics maker’s stock, valued at approximately $1,285,000.

Other hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after purchasing an additional 268,837 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings 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 buying an additional 1,304,199 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of TE Connectivity by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after buying an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after buying an additional 694,917 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in TE Connectivity by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock worth $469,113,000 after acquiring an additional 223,842 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TEL. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company lowered their price target on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective 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 report on Thursday, October 31st. Finally, The Goldman Sachs Group cut their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $160.70.

TE Connectivity Trading Up 0.2 %

Shares of TE Connectivity stock opened at $141.16 on Tuesday. 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 firm has a 50-day moving average of $148.46 and a 200-day moving average of $148.93. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98. The stock has a market cap of $42.23 billion, a PE ratio of 13.74, a PEG ratio of 2.04 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last announced its 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. 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 for the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The business’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity announced that its board has authorized a share repurchase plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board 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.