Cerity Partners LLC Increases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Cerity Partners LLC increased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 38.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,223 shares of the electronics maker’s stock after purchasing an additional 9,699 shares during the period. Cerity Partners LLC’s holdings in TE Connectivity were worth $5,318,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Simplicity Wealth LLC lifted its holdings in shares of TE Connectivity by 2.7% during the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after buying an additional 67 shares during the period. Silvercrest Asset Management Group LLC boosted its position in TE Connectivity by 2.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after purchasing an additional 68 shares during the last quarter. Optas LLC grew its stake in shares of TE Connectivity by 4.2% during the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after purchasing an additional 71 shares during the period. Gradient Investments LLC increased its position in shares of TE Connectivity by 2.2% during the 2nd quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker’s stock valued at $542,000 after purchasing an additional 76 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in shares of TE Connectivity by 3.4% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 2,297 shares of the electronics maker’s stock worth $346,000 after purchasing an additional 76 shares during the period. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Trading Up 0.9 %

Shares of TEL opened at $151.15 on Friday. The firm has a market cap of $45.22 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The company has a 50 day simple moving average of $149.28 and a two-hundred day simple moving average of $149.69.

TE Connectivity (NYSE:TEL) last posted its 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. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period last year, the company posted $1.78 earnings per share. TE Connectivity’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on TEL shares. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Bank of America reduced their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company lowered their target price 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. HSBC cut 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, StockNews.com initiated coverage on TE Connectivity in a research report on Sunday, November 24th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.