TE Connectivity Ltd. (NYSE:TEL) Stock Position Lifted by First Affirmative Financial Network

First Affirmative Financial Network boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 5.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,996 shares of the electronics maker’s stock after acquiring an additional 158 shares during the quarter. First Affirmative Financial Network’s holdings in TE Connectivity were worth $428,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp increased its stake in shares of TE Connectivity by 2.1% during the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after purchasing an additional 268,837 shares during the last quarter. Geode Capital Management LLC increased its position in TE Connectivity by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after buying an additional 75,658 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in TE Connectivity by 26.0% during 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 buying an additional 694,917 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after buying an additional 712,228 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of TE Connectivity by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock worth $266,059,000 after acquiring an additional 9,864 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the subject of a number of analyst reports. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. Finally, Bank of America lifted their price target on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Seven equities research 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 MarketBeat.com, TE Connectivity presently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity Price Performance

NYSE:TEL opened at $147.54 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.68. The company has a 50-day moving average of $147.69 and a 200-day moving average of $148.76. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a market capitalization of $44.04 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 2.12 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. The company 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%. The company’s revenue was up .1% compared to the same quarter last year. 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 8.1 earnings per share for the current fiscal year.

TE Connectivity announced that its board has authorized a share buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.