Studio Investment Management LLC Purchases 152 Shares of TE Connectivity Ltd. (NYSE:TEL)

Studio Investment Management LLC raised its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,520 shares of the electronics maker’s stock after purchasing an additional 152 shares during the quarter. Studio Investment Management LLC’s holdings in TE Connectivity were worth $380,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in shares of TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after buying an additional 128 shares in the last quarter. Olistico Wealth LLC bought a new stake in TE Connectivity during the 2nd quarter valued at $30,000. Armstrong Advisory Group Inc. lifted its position in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares in the last quarter. Bank & Trust Co purchased a new position in shares of TE Connectivity in the second quarter valued at $35,000. Finally, Wolff Wiese Magana LLC raised its stake in shares of 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 purchasing an additional 245 shares during the period. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TEL. StockNews.com initiated coverage on TE Connectivity in a research note on Saturday, November 16th. They issued a “buy” rating for the company. Bank of America cut their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. The Goldman Sachs Group decreased their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Price Performance

TEL opened at $152.26 on Friday. The stock has a market capitalization of $45.55 billion, a P/E ratio of 14.83, a PEG ratio of 2.04 and a beta of 1.33. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The stock has a 50-day moving average price of $148.96 and a 200-day moving average price of $149.52.

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

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

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.