Icon Wealth Advisors LLC Purchases 2,656 Shares of TE Connectivity Ltd. (NYSE:TEL)

Icon Wealth Advisors LLC grew its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 113.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,992 shares of the electronics maker’s stock after buying an additional 2,656 shares during the quarter. Icon Wealth Advisors LLC’s holdings in TE Connectivity were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of TE Connectivity during the second quarter valued at approximately $30,000. Armstrong Advisory Group Inc. grew its stake in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 150 shares during the last quarter. Bank & Trust Co bought a new stake in shares of TE Connectivity during the second quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC grew its stake in shares of TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Up 1.6 %

TEL opened at $152.26 on Friday. The firm’s fifty day moving average is $148.96 and its two-hundred day moving average is $149.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The firm has a market cap of $45.55 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same period last year, the business posted $1.78 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity announced that its Board of Directors has approved a share repurchase program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

TEL has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Bank of America reduced their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Saturday, November 16th. They issued a “buy” rating on the stock. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a research note on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average 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.