Benjamin Edwards Inc. Has $329,000 Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Benjamin Edwards Inc. increased its position in TE Connectivity Ltd. (NYSE:TEL) by 2,193.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,179 shares of the electronics maker’s stock after purchasing an additional 2,084 shares during the quarter. Benjamin Edwards Inc.’s holdings in TE Connectivity were worth $329,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wedmont Private Capital boosted its holdings in TE Connectivity by 6.9% during the second quarter. Wedmont Private Capital now owns 1,835 shares of the electronics maker’s stock worth $286,000 after buying an additional 118 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in shares of TE Connectivity by 3.6% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 28,221 shares of the electronics maker’s stock valued at $4,245,000 after purchasing an additional 969 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of TE Connectivity by 13.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,504 shares of the electronics maker’s stock valued at $4,438,000 after purchasing an additional 3,451 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of TE Connectivity by 2.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 41,150 shares of the electronics maker’s stock valued at $6,190,000 after purchasing an additional 853 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in shares of TE Connectivity by 1.3% during the 2nd quarter. AdvisorNet Financial Inc now owns 13,297 shares of the electronics maker’s stock valued at $2,000,000 after purchasing an additional 173 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Bank of America cut their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. The Goldman Sachs Group dropped their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st. Finally, Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Stock Down 0.6 %

TEL stock opened at $151.44 on Tuesday. 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 firm has a market capitalization of $45.30 billion, a PE ratio of 14.75, a PEG ratio of 2.07 and a beta of 1.32. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98. The business’s 50 day simple moving average is $149.76 and its 200 day simple moving average is $149.76.

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

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

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.