Vestor Capital LLC Acquires Shares of 435 TE Connectivity Ltd. (NYSE:TEL)

Vestor Capital LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 435 shares of the electronics maker’s stock, valued at approximately $66,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of TE Connectivity by 54.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after purchasing an additional 5,526,230 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after purchasing an additional 1,304,199 shares during the period. Dimensional Fund Advisors LP lifted its holdings in TE Connectivity by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock valued at $469,113,000 after purchasing an additional 223,842 shares in the last quarter. Cooke & Bieler LP lifted its holdings in TE Connectivity by 3.3% during the second quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker’s stock valued at $263,832,000 after purchasing an additional 55,777 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of TE Connectivity by 13.1% in the second quarter. Canada Pension Plan Investment Board now owns 1,434,642 shares of the electronics maker’s stock worth $215,813,000 after buying an additional 166,339 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

NYSE TEL opened at $150.10 on Tuesday. The stock has a market capitalization of $45.62 billion, a P/E ratio of 14.62, a P/E/G ratio of 2.04 and a beta of 1.33. TE Connectivity Ltd. has a 1 year low of $123.79 and a 1 year high of $159.98. The business’s fifty day moving average is $147.89 and its two-hundred day moving average is $148.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

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 analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period in the prior year, the company earned $1.78 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts forecast that TE Connectivity Ltd. will post 8.15 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

TEL has been the topic of several research reports. Truist Financial raised their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Vertical Research started coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target for the company. Bank of America reduced their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, StockNews.com began coverage on TE Connectivity in a research report on Thursday, October 31st. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $159.55.

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.