TE Connectivity Ltd. (NYSE:TEL) Shares Acquired by Versor Investments LP

Versor Investments LP increased its position in TE Connectivity Ltd. (NYSE:TEL) by 457.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,492 shares of the electronics maker’s stock after acquiring an additional 11,892 shares during the period. Versor Investments LP’s holdings in TE Connectivity were worth $2,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TEL. Proficio Capital Partners LLC purchased a new position in TE Connectivity during the 4th quarter worth approximately $5,171,000. Oppenheimer & Co. Inc. raised its holdings in shares of TE Connectivity by 16.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 4,889 shares of the electronics maker’s stock worth $699,000 after purchasing an additional 698 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in TE Connectivity by 2.4% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 123,453 shares of the electronics maker’s stock valued at $17,650,000 after purchasing an additional 2,900 shares during the last quarter. NewEdge Wealth LLC grew its position in TE Connectivity by 39.6% during the 4th quarter. NewEdge Wealth LLC now owns 21,766 shares of the electronics maker’s stock worth $3,112,000 after purchasing an additional 6,174 shares during the period. Finally, Checchi Capital Advisers LLC raised its stake in shares of TE Connectivity by 5.9% during the 4th quarter. Checchi Capital Advisers LLC now owns 2,698 shares of the electronics maker’s stock valued at $386,000 after buying an additional 151 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TEL. Citigroup increased their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 19th. 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. Bank of America raised their price target 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. Finally, Robert W. Baird increased their target price on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity Trading Up 0.5 %

Shares of TE Connectivity stock opened at $152.63 on Thursday. 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 firm has a market cap of $45.54 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The company’s 50-day simple moving average is $147.50 and its 200-day simple moving average is $148.63.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 EPS. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity announced that its board has initiated a stock buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are 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.