Heritage Family Offices LLP Boosts Position in TE Connectivity Ltd. (NYSE:TEL)

Heritage Family Offices LLP lifted its position in TE Connectivity Ltd. (NYSE:TEL) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,824 shares of the electronics maker’s stock after buying an additional 969 shares during the quarter. TE Connectivity makes up approximately 1.1% of Heritage Family Offices LLP’s portfolio, making the stock its 19th biggest holding. Heritage Family Offices LLP’s holdings in TE Connectivity were worth $2,119,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. purchased a new stake in TE Connectivity in the 4th quarter worth approximately $26,000. Armstrong Advisory Group Inc. increased its holdings in shares of TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC raised its position in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after buying an additional 245 shares in the last quarter. Hilltop National Bank bought a new stake in TE Connectivity during the fourth quarter valued at $55,000. Finally, Vestor Capital LLC bought a new position in TE Connectivity in the 3rd quarter worth about $66,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Performance

TE Connectivity stock opened at $143.67 on Thursday. The firm has a fifty day simple moving average of $148.33 and a two-hundred day simple moving average of $148.88. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The company has a market capitalization of $42.98 billion, a PE ratio of 13.99, a P/E/G ratio of 1.91 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting 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 during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the company posted $1.78 EPS. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts expect 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 program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on TEL shares. HSBC downgraded 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. The Goldman Sachs Group dropped their target price 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 raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. Finally, Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus price target of $160.70.

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.