LRI Investments LLC Raises Holdings in TE Connectivity Ltd. (NYSE:TEL)

LRI Investments LLC increased its position in TE Connectivity Ltd. (NYSE:TEL) by 64.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 819 shares of the electronics maker’s stock after purchasing an additional 322 shares during the period. LRI Investments LLC’s holdings in TE Connectivity were worth $126,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TEL. Venturi Wealth Management LLC lifted its stake in TE Connectivity by 1,632.0% in the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after buying an additional 6,169 shares during the last quarter. Waverton Investment Management Ltd raised its position in TE Connectivity by 8.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after purchasing an additional 106,688 shares during the last quarter. Marshall Financial Group LLC acquired a new stake in TE Connectivity during the 2nd quarter worth $995,000. Glenmede Trust Co. NA grew its position in TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after purchasing an additional 23,755 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of TE Connectivity by 21.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock valued at $10,471,000 after buying an additional 12,140 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Trading Down 0.8 %

Shares of TE Connectivity stock opened at $150.34 on Wednesday. The company has a 50-day moving average of $149.76 and a two-hundred day moving average of $149.76. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The stock has a market cap of $44.97 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 2.07 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.95. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. On average, research analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. Bank of America dropped their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. 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 research note on Tuesday, October 1st. Finally, Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and a consensus 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.