Atom Investors LP Acquires 3,315 Shares of TE Connectivity Ltd. (NYSE:TEL)

Atom Investors LP increased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 238.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,707 shares of the electronics maker’s stock after purchasing an additional 3,315 shares during the quarter. Atom Investors LP’s holdings in TE Connectivity were worth $711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. grew its stake in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Wolff Wiese Magana LLC boosted its position 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 acquiring an additional 245 shares in the last quarter. Family Firm Inc. bought a new stake in TE Connectivity during the 2nd quarter valued at approximately $43,000. Isthmus Partners LLC bought a new stake in TE Connectivity during the 2nd quarter valued at approximately $45,000. Finally, MCF Advisors LLC boosted its position in TE Connectivity by 2,745.5% during the 2nd quarter. MCF Advisors LLC now owns 313 shares of the electronics maker’s stock valued at $47,000 after acquiring an additional 302 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $151.86 on Wednesday. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The firm has a market cap of $45.43 billion, a P/E ratio of 14.79, a PEG ratio of 2.10 and a beta of 1.32. The company has a 50 day moving average of $149.52 and a 200 day moving average of $149.73. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.95. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS. As a group, research analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity announced that its board has approved a stock repurchase program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TEL. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. The Goldman Sachs Group cut their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. Finally, StockNews.com began coverage on TE Connectivity in a research report on Sunday, November 24th. They issued 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and a consensus target price of $159.55.

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.