Lifeworks Advisors LLC Buys 3,217 Shares of TE Connectivity Ltd. (NYSE:TEL)

by · The Cerbat Gem

Lifeworks Advisors LLC grew its stake in shares of TE Connectivity Ltd. (NYSE:TEL – Free Report) by 25.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,032 shares of the electronics maker’s stock after buying an additional 3,217 shares during the period. Lifeworks Advisors LLC’s holdings in TE Connectivity were worth $2,421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of TE Connectivity in the third quarter worth approximately $1,156,000. Metis Global Partners LLC increased its position in shares of TE Connectivity by 1.0% in the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock worth $1,475,000 after purchasing an additional 96 shares during the last quarter. Curi RMB Capital LLC increased its position in shares of TE Connectivity by 36.6% in the third quarter. Curi RMB Capital LLC now owns 7,556 shares of the electronics maker’s stock worth $1,141,000 after purchasing an additional 2,026 shares during the last quarter. KBC Group NV increased its position in shares of TE Connectivity by 53.9% in the third quarter. KBC Group NV now owns 102,617 shares of the electronics maker’s stock worth $15,495,000 after purchasing an additional 35,959 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of TE Connectivity by 5.6% in the third quarter. Huntington National Bank now owns 3,870 shares of the electronics maker’s stock worth $585,000 after purchasing an additional 204 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Performance

Shares of TEL stock traded down $0.37 during trading hours on Thursday, reaching $154.37. 148,998 shares of the company traded hands, compared to its average volume of 1,825,017. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The company has a market cap of $46.92 billion, a P/E ratio of 15.06, a P/E/G ratio of 2.09 and a beta of 1.33. The firm has a 50-day moving average price of $148.28 and a 200 day moving average price of $149.17.

TE Connectivity (NYSE:TEL – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same period in the previous year, the firm earned $1.78 EPS. The firm’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

TE Connectivity declared that its board has approved a share buyback 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 repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TEL shares. Truist Financial increased their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. The Goldman Sachs Group reduced their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Bank of America reduced their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Finally, Robert W. Baird increased their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $159.55.

Get Our Latest Analysis on TEL

TE Connectivity Company Profile

(Free Report)

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.

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