TE Connectivity Ltd. (NYSE:TEL) Position Increased by King Luther Capital Management Corp

King Luther Capital Management Corp increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,923 shares of the electronics maker’s stock after buying an additional 288 shares during the quarter. King Luther Capital Management Corp’s holdings in TE Connectivity were worth $2,102,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of TE Connectivity by 769.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,401 shares of the electronics maker’s stock worth $16,997,000 after acquiring an additional 99,466 shares during the period. Commerce Bank increased its stake in shares of TE Connectivity by 0.4% in the third quarter. Commerce Bank now owns 405,318 shares of the electronics maker’s stock valued at $61,199,000 after purchasing an additional 1,649 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of TE Connectivity by 0.8% during the third quarter. PNC Financial Services Group Inc. now owns 116,966 shares of the electronics maker’s stock valued at $17,661,000 after buying an additional 889 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in TE Connectivity by 39.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,389 shares of the electronics maker’s stock worth $663,000 after buying an additional 1,233 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its position in TE Connectivity by 3.2% in the 3rd quarter. Meeder Advisory Services Inc. now owns 9,434 shares of the electronics maker’s stock valued at $1,424,000 after acquiring an additional 291 shares during the period. 91.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TEL. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Saturday, November 16th. They set a “buy” rating on the stock. Wells Fargo & Company reduced their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note 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. Finally, Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Trading Up 1.6 %

Shares of TEL opened at $152.26 on Friday. The business’s 50-day moving average price is $148.96 and its 200 day moving average price is $149.52. 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 capitalization of $45.55 billion, a P/E ratio of 14.83, a P/E/G ratio of 2.00 and a beta of 1.33. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $1.78 earnings per share. Analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

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

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.