Prime Capital Investment Advisors LLC Acquires 288 Shares of TE Connectivity Ltd. (NYSE:TEL)

Prime Capital Investment Advisors LLC grew its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 17.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,984 shares of the electronics maker’s stock after purchasing an additional 288 shares during the period. Prime Capital Investment Advisors LLC’s holdings in TE Connectivity were worth $300,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in TE Connectivity by 72.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock worth $46,537,000 after acquiring an additional 135,548 shares during the period. Manning & Napier Advisors LLC acquired a new position in TE Connectivity in the second quarter valued at about $15,847,000. CANADA LIFE ASSURANCE Co lifted its position in TE Connectivity by 5.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 283,128 shares of the electronics maker’s stock worth $41,117,000 after purchasing an additional 15,052 shares during the period. Marshall Financial Group LLC acquired a new stake in TE Connectivity during the second quarter worth about $995,000. Finally, Venturi Wealth Management LLC increased its holdings in TE Connectivity by 1,632.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after buying an additional 6,169 shares during the period. 91.43% of the stock is owned by institutional investors.

TE Connectivity Trading Down 3.2 %

Shares of NYSE TEL opened at $148.35 on Friday. The stock has a market cap of $44.38 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33. The firm has a 50 day moving average price of $148.50 and a two-hundred day moving average price of $149.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting the consensus estimate of $1.95. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. As a group, equities analysts forecast that TE Connectivity Ltd. will post 8.13 EPS for the current year.

TE Connectivity announced that its Board of Directors has authorized a share buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TEL has been the topic of several analyst reports. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Saturday. They set a “buy” rating on the stock. Robert W. Baird lifted their price target on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. The Goldman Sachs Group decreased their target price 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. Finally, Vertical Research started coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $159.55.

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.