Sanctuary Advisors LLC Raises Stake in TE Connectivity Ltd. (NYSE:TEL)

Sanctuary Advisors LLC grew its holdings in TE Connectivity Ltd. (NYSE:TEL) by 124.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 65,749 shares of the electronics maker’s stock after buying an additional 36,423 shares during the period. Sanctuary Advisors LLC’s holdings in TE Connectivity were worth $10,011,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Armstrong Advisory Group Inc. raised its stake in TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Wolff Wiese Magana LLC increased its holdings in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares during the period. Family Firm Inc. purchased a new stake in shares of TE Connectivity during the second quarter worth approximately $43,000. Isthmus Partners LLC acquired a new stake in shares of TE Connectivity during the second quarter worth $45,000. Finally, MCF Advisors LLC grew its position in TE Connectivity by 2,745.5% in the 2nd quarter. MCF Advisors LLC now owns 313 shares of the electronics maker’s stock valued at $47,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Ratings Changes

TEL has been the subject of several recent analyst reports. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research note on Thursday, October 31st. The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. Finally, Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TE Connectivity has a consensus rating of “Hold” and an average target price of $159.55.

TE Connectivity Trading Down 0.8 %

Shares of TEL stock opened at $150.09 on Friday. The stock has a market cap of $44.90 billion, a P/E ratio of 14.61, a P/E/G ratio of 2.04 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The business has a fifty day simple moving average of $150.10 and a 200-day simple moving average of $149.76.

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. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 earnings per share. On average, analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity declared that its board has authorized a stock repurchase program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is 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.