SG Americas Securities LLC Purchases New Holdings in TE Connectivity Ltd. (NYSE:TEL)

SG Americas Securities LLC purchased a new stake in TE Connectivity Ltd. (NYSE:TEL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,446 shares of the electronics maker’s stock, valued at approximately $779,000.

Other hedge funds have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. lifted its position in shares of TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after acquiring an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA lifted its position in TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after buying an additional 23,755 shares in the last quarter. Venturi Wealth Management LLC lifted its position 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 worth $989,000 after buying an additional 6,169 shares in the last quarter. Waverton Investment Management Ltd increased its stake in shares of TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after purchasing an additional 106,688 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of TE Connectivity by 21.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock worth $10,471,000 after purchasing an additional 12,140 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

NYSE:TEL opened at $147.54 on Thursday. The firm has a market capitalization of $44.02 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The firm has a 50-day moving average price of $147.69 and a 200 day moving average price of $148.76.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the company earned $1.84 EPS. TE Connectivity’s revenue was up .1% on a year-over-year basis. Research analysts anticipate that TE Connectivity Ltd. will post 8.1 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

TEL has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Citigroup raised their target price on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company increased their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.90% of the company’s stock.

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.