Wealth Enhancement Advisory Services LLC Grows Position in TE Connectivity Ltd. (NYSE:TEL)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 13.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 33,516 shares of the electronics maker’s stock after buying an additional 4,012 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in TE Connectivity were worth $5,061,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of TEL. Arkadios Wealth Advisors bought a new stake in TE Connectivity in the 3rd quarter worth approximately $758,000. NorthCrest Asset Manangement LLC grew its holdings in shares of TE Connectivity by 0.8% in the third quarter. NorthCrest Asset Manangement LLC now owns 28,434 shares of the electronics maker’s stock valued at $4,293,000 after purchasing an additional 213 shares in the last quarter. Forsta AP Fonden increased its position in TE Connectivity by 8.1% in the third quarter. Forsta AP Fonden now owns 77,100 shares of the electronics maker’s stock worth $11,641,000 after purchasing an additional 5,800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in TE Connectivity by 141.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,846 shares of the electronics maker’s stock valued at $5,874,000 after purchasing an additional 22,748 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its stake in shares of TE Connectivity by 2.3% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 12,462 shares of the electronics maker’s stock worth $1,882,000 after buying an additional 282 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Price Performance

Shares of TEL stock opened at $147.42 on Friday. The company’s 50-day simple moving average is $148.00 and its two-hundred day simple moving average is $148.39. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. TE Connectivity Ltd. has a one year low of $116.01 and a one year high of $159.98. The company has a market capitalization of $45.14 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.92 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the company posted $1.78 EPS. TE Connectivity’s revenue was up .8% on a year-over-year basis. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 7.57 EPS for the current year.

TE Connectivity declared that its board has approved a share repurchase plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TEL shares. The Goldman Sachs Group lowered their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Bank of America dropped their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Robert W. Baird increased 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. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Finally, Vertical Research initiated coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, TE Connectivity 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.