Econ Financial Services Corp Purchases 438 Shares of TE Connectivity Ltd. (NYSE:TEL)

Econ Financial Services Corp lifted its position in TE Connectivity Ltd. (NYSE:TEL) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,129 shares of the electronics maker’s stock after buying an additional 438 shares during the period. Econ Financial Services Corp’s holdings in TE Connectivity were worth $1,448,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Optas LLC raised its stake in shares of TE Connectivity by 4.2% during the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after purchasing an additional 71 shares in the last quarter. OLD National Bancorp IN increased its holdings in TE Connectivity by 3.6% during the third quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock worth $374,000 after buying an additional 85 shares during the last quarter. Metis Global Partners LLC raised its position in TE Connectivity by 1.0% during the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock worth $1,475,000 after acquiring an additional 96 shares in the last quarter. Insigneo Advisory Services LLC lifted its stake in TE Connectivity by 2.4% in the third 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 last quarter. Finally, Concurrent Investment Advisors LLC grew its position in shares of TE Connectivity by 6.4% in 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. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Down 0.2 %

TEL stock opened at $144.75 on Wednesday. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company’s 50-day simple moving average is $147.33 and its 200 day simple moving average is $148.45. The company has a market capitalization of $43.19 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the company earned $1.84 EPS. The company’s revenue was up .1% on a year-over-year basis. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.96 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has approved a share 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 believes its shares are undervalued.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Wells Fargo & Company boosted their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Finally, HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, TE Connectivity currently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

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.