Icon Wealth Advisors LLC Has $754,000 Position in TE Connectivity Ltd. (NYSE:TEL)

Icon Wealth Advisors LLC raised its holdings in TE Connectivity Ltd. (NYSE:TEL) by 113.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,992 shares of the electronics maker’s stock after buying an additional 2,656 shares during the period. Icon Wealth Advisors LLC’s holdings in TE Connectivity were worth $754,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after buying an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new stake in TE Connectivity in the 2nd quarter valued at $30,000. Armstrong Advisory Group Inc. increased its stake in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after buying an additional 150 shares during the last quarter. Bank & Trust Co bought a new position in shares of TE Connectivity in the 2nd quarter valued at about $35,000. Finally, Wolff Wiese Magana LLC grew its position in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 245 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TEL has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Saturday, November 16th. They issued a “buy” rating for the company. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, Bank of America decreased their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $152.26 on Friday. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $148.96 and a two-hundred day simple moving average of $149.52. The stock has a market capitalization of $45.55 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the company earned $1.78 EPS. The business’s revenue was up .8% on a year-over-year basis. Analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

TE Connectivity Company 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.