OneDigital Investment Advisors LLC Grows Stake in TE Connectivity Ltd. (NYSE:TEL)

OneDigital Investment Advisors LLC raised its position in TE Connectivity Ltd. (NYSE:TEL) by 36.5% during the third quarter, Holdings Channel reports. The fund owned 7,476 shares of the electronics maker’s stock after acquiring an additional 1,999 shares during the period. OneDigital Investment Advisors LLC’s holdings in TE Connectivity were worth $1,129,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of TEL. Lifeworks Advisors LLC lifted its stake in shares of TE Connectivity by 25.1% in the 3rd quarter. Lifeworks Advisors LLC now owns 16,032 shares of the electronics maker’s stock worth $2,421,000 after purchasing an additional 3,217 shares during the period. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of TE Connectivity during the 3rd quarter worth $1,156,000. Metis Global Partners LLC grew its position in shares of 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. Curi RMB Capital LLC increased its stake in shares of TE Connectivity by 36.6% in the 3rd quarter. Curi RMB Capital LLC now owns 7,556 shares of the electronics maker’s stock worth $1,141,000 after purchasing an additional 2,026 shares in the last quarter. Finally, KBC Group NV raised its holdings in TE Connectivity by 53.9% in the 3rd quarter. KBC Group NV now owns 102,617 shares of the electronics maker’s stock worth $15,495,000 after purchasing an additional 35,959 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

TE Connectivity stock opened at $148.36 on Tuesday. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98. The company has a market cap of $44.38 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 2.02 and a beta of 1.33. The firm’s fifty day moving average is $148.57 and its 200 day moving average is $149.42. 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 (NYSE:TEL) last announced 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 net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter last year, the firm earned $1.78 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.

TE Connectivity Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 25th will be given a dividend of $0.65 per share. This represents a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, November 22nd. TE Connectivity’s dividend payout ratio is currently 25.32%.

TE Connectivity announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

TEL has been the topic of several recent analyst reports. Bank of America decreased their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com started coverage on TE Connectivity in a research report on Saturday. They set a “buy” rating for the company. The Goldman Sachs Group lowered their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $159.55.

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.