Prime Capital Investment Advisors LLC Has $300,000 Stake in TE Connectivity Ltd. (NYSE:TEL)

Prime Capital Investment Advisors LLC increased its position in TE Connectivity Ltd. (NYSE:TEL) by 17.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,984 shares of the electronics maker’s stock after buying an additional 288 shares during the period. Prime Capital Investment Advisors LLC’s holdings in TE Connectivity were worth $300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its position in shares of TE Connectivity by 3.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 31,715 shares of the electronics maker’s stock worth $4,606,000 after purchasing an additional 1,100 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in TE Connectivity by 3.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after buying an additional 69 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of TE Connectivity by 72.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock valued at $46,537,000 after buying an additional 135,548 shares in the last quarter. Catalytic Wealth RIA LLC grew its holdings in shares of TE Connectivity by 38.6% during the first quarter. Catalytic Wealth RIA LLC now owns 2,656 shares of the electronics maker’s stock valued at $386,000 after buying an additional 740 shares during the last quarter. Finally, Rockport Wealth LLC bought a new stake in shares of TE Connectivity during the first quarter worth about $236,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $148.35 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $148.50 and a two-hundred day simple moving average of $149.24. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98. The firm has a market cap of $44.38 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 EPS. Analysts anticipate that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.

TE Connectivity declared that its board has authorized a share repurchase plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TEL shares. Vertical Research started coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective for the company. HSBC downgraded shares of 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. Bank of America lowered their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. 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, Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, TE Connectivity 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.