Kestra Investment Management LLC Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Kestra Investment Management LLC acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) in the third quarter, HoldingsChannel.com reports. The firm acquired 9,744 shares of the electronics maker’s stock, valued at approximately $1,473,000.

Several other institutional investors have also recently added to or reduced their stakes in TEL. Cobblestone Capital Advisors LLC NY grew its holdings in TE Connectivity by 6.6% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 1,941 shares of the electronics maker’s stock valued at $293,000 after buying an additional 120 shares during the period. Rockefeller Capital Management L.P. grew its holdings in TE Connectivity by 1.3% in the third quarter. Rockefeller Capital Management L.P. now owns 1,024,454 shares of the electronics maker’s stock valued at $154,682,000 after purchasing an additional 12,994 shares during the period. Public Sector Pension Investment Board grew its holdings in TE Connectivity by 13.9% in the third quarter. Public Sector Pension Investment Board now owns 13,076 shares of the electronics maker’s stock valued at $1,974,000 after purchasing an additional 1,600 shares during the period. Financial Counselors Inc. increased its position in TE Connectivity by 2.8% during the third quarter. Financial Counselors Inc. now owns 151,878 shares of the electronics maker’s stock worth $22,932,000 after purchasing an additional 4,131 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TE Connectivity by 13.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 322,696 shares of the electronics maker’s stock worth $48,724,000 after purchasing an additional 38,539 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

NYSE:TEL opened at $151.12 on Friday. The firm has a 50-day moving average of $149.34 and a two-hundred day moving average of $149.72. 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 stock has a market cap of $45.21 billion, a P/E ratio of 14.71, a PEG ratio of 2.05 and a beta of 1.33. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98.

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

TE Connectivity announced that its board has initiated a stock repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently commented 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 report on Wednesday, October 9th. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a report on Thursday, October 31st. Wells Fargo & Company decreased their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, StockNews.com initiated coverage on shares of TE Connectivity in a research note on Sunday, November 24th. They set a “buy” rating for the company. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $159.55.

TE Connectivity 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.