Park Avenue Securities LLC Buys Shares of 7,157 TE Connectivity Ltd. (NYSE:TEL)

Park Avenue Securities LLC bought a new stake in shares of TE Connectivity Ltd. (NYSE:TEL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,157 shares of the electronics maker’s stock, valued at approximately $1,023,000.

Other institutional investors also recently bought and sold shares of the company. Armstrong Advisory Group Inc. raised its holdings in TE Connectivity by 208.3% during the third 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 in the last quarter. Wolff Wiese Magana LLC grew 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 valued at $39,000 after purchasing an additional 245 shares during the last quarter. Hilltop National Bank acquired a new stake in shares of TE Connectivity in the fourth quarter valued at about $55,000. Vestor Capital LLC acquired a new stake in shares of TE Connectivity in the third quarter valued at about $66,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of TE Connectivity in the third quarter valued at about $75,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Up 1.8 %

Shares of TEL opened at $146.29 on Tuesday. The stock has a market cap of $43.76 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.91 and a beta of 1.32. 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 12 month low of $128.91 and a 12 month high of $159.98. The company has a 50-day moving average price of $147.70 and a two-hundred day moving average price of $148.78.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 earnings per share. Equities analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity declared that its board has initiated a share 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 reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. Bank of America lowered their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. The Goldman Sachs Group lowered their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company decreased their target price on 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, StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.