Janney Montgomery Scott LLC Purchases 6,666 Shares of TE Connectivity Ltd. (NYSE:TEL)

Janney Montgomery Scott LLC grew its position in TE Connectivity Ltd. (NYSE:TEL) by 3.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 221,089 shares of the electronics maker’s stock after acquiring an additional 6,666 shares during the period. Janney Montgomery Scott LLC’s holdings in TE Connectivity were worth $33,382,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Norden Group LLC acquired a new stake in TE Connectivity in the first quarter valued at $575,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in TE Connectivity by 10.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,535 shares of the electronics maker’s stock valued at $8,878,000 after purchasing an additional 6,084 shares during the period. Manchester Capital Management LLC increased its holdings in TE Connectivity by 5.4% in the first quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock valued at $207,000 after purchasing an additional 73 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in TE Connectivity by 4.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 40,297 shares of the electronics maker’s stock valued at $5,853,000 after purchasing an additional 1,721 shares during the period. Finally, Quantbot Technologies LP increased its holdings in TE Connectivity by 340.9% in the first quarter. Quantbot Technologies LP now owns 44,087 shares of the electronics maker’s stock valued at $6,403,000 after purchasing an additional 34,087 shares during the period. 91.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Vertical Research began coverage on TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price target for the company. Robert W. Baird increased their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Finally, StockNews.com began coverage on TE Connectivity in a report on Thursday, October 31st. They set a “buy” rating for the company. One investment 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Price Performance

TEL stock opened at $150.10 on Tuesday. The company has a market capitalization of $45.62 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.99 and a current ratio of 1.61. TE Connectivity Ltd. has a 52-week low of $123.79 and a 52-week high of $159.98. The business has a 50-day simple moving average of $147.89 and a two-hundred day simple moving average of $148.60.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the business earned $1.78 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. Research analysts expect that TE Connectivity Ltd. will post 8.16 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a share repurchase program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership 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.