29,843 Shares in TE Connectivity Ltd. (NYSE:TEL) Bought by Banque Pictet & Cie SA

Banque Pictet & Cie SA bought a new position in TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 29,843 shares of the electronics maker’s stock, valued at approximately $4,267,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC bought a new position in shares of TE Connectivity during the third quarter valued at $235,000. Creative Planning raised its stake in shares of TE Connectivity by 3.0% in the third quarter. Creative Planning now owns 42,019 shares of the electronics maker’s stock worth $6,345,000 after buying an additional 1,237 shares during the period. Swedbank AB raised its stake in shares of TE Connectivity by 1.0% in the third quarter. Swedbank AB now owns 70,792 shares of the electronics maker’s stock worth $10,689,000 after buying an additional 684 shares during the period. SeaCrest Wealth Management LLC raised its stake in shares of TE Connectivity by 5.7% in the third quarter. SeaCrest Wealth Management LLC now owns 3,343 shares of the electronics maker’s stock worth $505,000 after buying an additional 180 shares during the period. Finally, Wolff Wiese Magana LLC raised its stake in TE Connectivity by 2,450.0% during the 3rd 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 period. 91.43% of the stock is owned by institutional investors.

Insider Buying and Selling at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was 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 owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Stock Performance

Shares of TEL stock opened at $152.87 on Friday. The company has a market capitalization of $45.61 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.01 and a beta of 1.32. The business’s 50 day moving average is $146.78 and its two-hundred day moving average is $148.23. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98.

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

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TEL shares. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. StockNews.com cut TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company upped their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Citigroup boosted their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Bank of America upped their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $167.00.

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.