Waverton Investment Management Ltd Acquires 66,933 Shares of TE Connectivity Ltd. (NYSE:TEL)

Waverton Investment Management Ltd grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,477,981 shares of the electronics maker’s stock after buying an additional 66,933 shares during the quarter. TE Connectivity accounts for about 3.4% of Waverton Investment Management Ltd’s portfolio, making the stock its 12th biggest position. Waverton Investment Management Ltd’s holdings in TE Connectivity were worth $211,373,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in TEL. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity during the 4th quarter valued at $26,000. Golden State Wealth Management LLC bought a new position in TE Connectivity in the fourth quarter valued at about $44,000. Hilltop National Bank purchased a new position in TE Connectivity in the fourth quarter worth about $55,000. Deseret Mutual Benefit Administrators purchased a new stake in shares of TE Connectivity during the 4th quarter valued at about $57,000. Finally, Webster Bank N. A. bought a new position in shares of TE Connectivity in the 4th quarter worth approximately $61,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction 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 sale, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TEL. Robert W. Baird boosted their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 19th. Citigroup raised their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company increased their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, Bank of America lifted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $167.00.

TE Connectivity Price Performance

TEL stock opened at $154.55 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The company has a market capitalization of $46.11 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The company’s fifty day moving average price is $147.20 and its 200-day moving average price is $148.48. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98.

TE Connectivity (NYSE:TEL) last issued 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 return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the business posted $1.84 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity declared that its board has authorized a stock buyback plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board 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.