Walter & Keenan Wealth Management LLC IN ADV Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Walter & Keenan Wealth Management LLC IN ADV bought a new stake in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,702 shares of the electronics maker’s stock, valued at approximately $243,000.

Several other large investors have also modified their holdings of the stock. Nordea Investment Management AB purchased a new position in TE Connectivity during the 4th quarter worth $149,211,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of TE Connectivity by 2,330.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock valued at $107,738,000 after acquiring an additional 722,565 shares in the last quarter. Franklin Resources Inc. raised its holdings in TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after purchasing an additional 712,228 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in TE Connectivity by 26.0% in 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 period. Finally, State Street Corp boosted its holdings 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 valued at $1,940,615,000 after purchasing an additional 268,837 shares in the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TEL. Citigroup increased their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. HSBC upgraded 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. Robert W. Baird increased their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.00.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on 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 sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Stock Up 0.3 %

Shares of NYSE TEL opened at $146.95 on Monday. The firm’s 50-day moving average is $147.05 and its two-hundred day moving average is $148.35. The company has a market capitalization of $43.84 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. TE Connectivity’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 EPS. Equities analysts anticipate that TE Connectivity Ltd. will post 7.95 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has approved a share buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.