First Horizon Advisors Inc. Boosts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

First Horizon Advisors Inc. lifted its position in TE Connectivity Ltd. (NYSE:TEL) by 10.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,349 shares of the electronics maker’s stock after purchasing an additional 315 shares during the quarter. First Horizon Advisors Inc.’s holdings in TE Connectivity were worth $479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Optas LLC boosted its holdings in TE Connectivity by 4.2% during the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after acquiring an additional 71 shares during the period. Metis Global Partners LLC boosted its holdings in TE Connectivity by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after acquiring an additional 96 shares during the period. Callan Capital LLC boosted its holdings in TE Connectivity by 5.4% during the 4th quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock valued at $296,000 after acquiring an additional 106 shares during the period. Insigneo Advisory Services LLC boosted its holdings in TE Connectivity by 2.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock valued at $684,000 after acquiring an additional 108 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its holdings in TE Connectivity by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock valued at $295,000 after acquiring an additional 117 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Down 0.8 %

Shares of NYSE:TEL opened at $153.31 on Tuesday. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The firm has a market capitalization of $45.74 billion, a P/E ratio of 24.49, a P/E/G ratio of 2.11 and a beta of 1.32. The stock has a 50 day moving average price of $147.27 and a 200-day moving average price of $148.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the company earned $1.84 EPS. The business’s revenue was up .1% compared to the same quarter last year. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity declared that its board has authorized a share buyback plan 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 plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Robert W. Baird increased their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 19th. Finally, Bank of America upped their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

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.