Cardinal Strategic Wealth Guidance Buys Shares of 1,670 TE Connectivity Ltd. (NYSE:TEL)

Cardinal Strategic Wealth Guidance acquired a new stake in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,670 shares of the electronics maker’s stock, valued at approximately $239,000.

A number of other institutional investors have also made changes to their positions in TEL. Brookstone Capital Management boosted its stake in shares of TE Connectivity by 13.5% during the 3rd quarter. Brookstone Capital Management now owns 2,450 shares of the electronics maker’s stock worth $370,000 after buying an additional 292 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in TE Connectivity during the third quarter valued at approximately $235,000. Armstrong Advisory Group Inc. increased its position in shares of TE Connectivity by 208.3% during the 3rd 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 last quarter. Creative Planning grew its stake in shares of TE Connectivity by 3.0% in the third quarter. Creative Planning now owns 42,019 shares of the electronics maker’s stock valued at $6,345,000 after buying an additional 1,237 shares in the last quarter. Finally, Swedbank AB increased its holdings in TE Connectivity by 1.0% during the third quarter. Swedbank AB now owns 70,792 shares of the electronics maker’s stock worth $10,689,000 after buying an additional 684 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Trading Up 1.9 %

TEL opened at $149.71 on Tuesday. The stock has a market cap of $44.66 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98. The company has a fifty day moving average of $147.05 and a 200-day moving average of $148.29.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. On average, sell-side analysts predict that TE Connectivity Ltd. will post 7.95 EPS for the current year.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. Bank of America increased their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Citigroup upped their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their price objective on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

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.