GSA Capital Partners LLP Decreases Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

GSA Capital Partners LLP trimmed its position in TE Connectivity Ltd. (NYSE:TEL) by 58.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,646 shares of the electronics maker’s stock after selling 2,350 shares during the quarter. GSA Capital Partners LLP’s holdings in TE Connectivity were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in shares of TE Connectivity during the 2nd quarter valued at $15,847,000. Venturi Wealth Management LLC increased its position in shares of TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after purchasing an additional 6,169 shares during the last quarter. Marshall Financial Group LLC purchased a new stake in shares of TE Connectivity during the 2nd quarter valued at about $995,000. Waverton Investment Management Ltd increased its position 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 valued at $213,089,000 after purchasing an additional 106,688 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of TE Connectivity during the 1st quarter valued at about $10,182,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TEL shares. 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 lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a report on Thursday, October 31st. Bank of America dropped their price target on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company lowered their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. Finally, StockNews.com assumed coverage on TE Connectivity in a research report on Saturday, November 16th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Trading Up 1.6 %

TE Connectivity stock opened at $152.26 on Friday. 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 52 week low of $128.52 and a 52 week high of $159.98. The company 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. The stock has a 50-day moving average price of $148.96 and a 200 day moving average price of $149.56.

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

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

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.