C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1.96 Million in TE Connectivity Ltd. (NYSE:TEL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,685 shares of the electronics maker’s stock, valued at approximately $1,957,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TEL. Pinnacle Bancorp Inc. bought a new position in TE Connectivity in the 4th quarter valued at about $26,000. Golden State Wealth Management LLC bought a new position in TE Connectivity in the 4th quarter valued at about $44,000. Hilltop National Bank bought a new position in TE Connectivity in the 4th quarter valued at about $55,000. Webster Bank N. A. bought a new position in TE Connectivity in the 4th quarter valued at about $61,000. Finally, R Squared Ltd bought a new position in TE Connectivity in the 4th quarter valued at about $64,000. Institutional investors own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In related 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 transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research note on Thursday, January 23rd. Citigroup increased their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company 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 note on Wednesday. Finally, Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity Trading Up 1.0 %

Shares of TEL stock opened at $154.37 on Wednesday. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The firm has a market cap of $46.05 billion, a P/E ratio of 24.66, a PEG ratio of 2.07 and a beta of 1.32. 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 company has a 50 day moving average of $146.90 and a 200-day moving average of $148.21.

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 analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business earned $1.84 EPS. TE Connectivity’s revenue was up .1% compared to the same quarter last year. Sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity declared that its board has authorized a share repurchase 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 generally a sign that the company’s management 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.