Secured Retirement Advisors LLC Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Secured Retirement Advisors LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,536 shares of the electronics maker’s stock, valued at approximately $649,000.

Other hedge funds have also made changes to their positions in the company. State Street Corp lifted its position in TE Connectivity by 2.1% in the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after buying an additional 268,837 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of TE Connectivity by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after acquiring an additional 75,658 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after purchasing an additional 694,917 shares during the last quarter. Franklin Resources Inc. grew its stake in TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in TE Connectivity by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock worth $266,059,000 after purchasing an additional 9,864 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TEL. Wells Fargo & Company lifted their price target on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Bank of America lifted their price objective 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 raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research report on Thursday, January 23rd. Finally, Citigroup boosted their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $152.87 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $146.79 and a 200 day moving average price of $148.21. The company has a market cap of $45.61 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.01 and a beta of 1.32. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company posted $1.84 earnings per share. TE Connectivity’s quarterly revenue was up .1% on a year-over-year basis. Research analysts predict that TE Connectivity Ltd. will post 7.95 earnings per share for the current year.

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

TE Connectivity Company 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.