Cadence Bank Makes New Investment in TE Connectivity Ltd. (NYSE:TEL)

Cadence Bank bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,350 shares of the electronics maker’s stock, valued at approximately $204,000.

A number of other hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc boosted its holdings in TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares during the period. Olistico Wealth LLC acquired a new position in shares of TE Connectivity in the 2nd quarter valued at about $30,000. Armstrong Advisory Group Inc. grew its position in shares of TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after buying an additional 150 shares during the last quarter. Bank & Trust Co acquired a new stake in TE Connectivity during the second quarter worth about $35,000. Finally, Wolff Wiese Magana LLC lifted its holdings in TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 245 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Up 0.9 %

Shares of TEL stock opened at $151.15 on Friday. 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 stock has a market cap of $45.22 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 2.05 and a beta of 1.33. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The business’s fifty day moving average is $149.28 and its 200-day moving average is $149.69.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.95. The business 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 for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 earnings per share. Equities analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity announced that its board has initiated 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 purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TEL. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a report on Thursday, October 31st. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. The Goldman Sachs Group dropped their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Finally, StockNews.com started coverage on TE Connectivity in a report on Sunday, November 24th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and an average target price 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.