Haverford Trust Co Buys 6,245 Shares of TE Connectivity Ltd. (NYSE:TEL)

Haverford Trust Co increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.1% in the third quarter, Holdings Channel.com reports. The fund owned 205,494 shares of the electronics maker’s stock after purchasing an additional 6,245 shares during the period. Haverford Trust Co’s holdings in TE Connectivity were worth $31,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its position in TE Connectivity by 0.8% during the third quarter. Victory Capital Management Inc. now owns 146,810 shares of the electronics maker’s stock valued at $22,167,000 after purchasing an additional 1,154 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in shares of TE Connectivity by 17.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,984 shares of the electronics maker’s stock worth $300,000 after purchasing an additional 288 shares during the period. Ashton Thomas Private Wealth LLC boosted its stake in shares of TE Connectivity by 2.6% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 13,290 shares of the electronics maker’s stock worth $2,007,000 after purchasing an additional 342 shares during the period. Waverton Investment Management Ltd boosted its stake in shares of TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after purchasing an additional 106,688 shares during the period. Finally, Entropy Technologies LP boosted its stake in shares of TE Connectivity by 16.0% during the 3rd quarter. Entropy Technologies LP now owns 38,295 shares of the electronics maker’s stock worth $5,782,000 after purchasing an additional 5,279 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 1.1 %

NYSE:TEL opened at $153.37 on Wednesday. The company has a market cap of $46.61 billion, a PE ratio of 14.93, a P/E/G ratio of 2.11 and a beta of 1.33. TE Connectivity Ltd. has a twelve month low of $124.95 and a twelve month high of $159.98. 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 company’s 50 day moving average is $148.04 and its two-hundred day moving average is $149.04.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The company had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. TE Connectivity’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 EPS. Analysts anticipate that TE Connectivity Ltd. will post 8.13 EPS for the current year.

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

Analyst Ratings Changes

A number of equities analysts recently commented on TEL shares. Wells Fargo & Company dropped their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. Robert W. Baird lifted their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. The Goldman Sachs Group reduced 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. StockNews.com began coverage on shares of TE Connectivity in a report on Friday, November 8th. They issued a “buy” rating for the company. Finally, Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, TE Connectivity presently 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.