Intech Investment Management LLC Lowers Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Intech Investment Management LLC trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 54.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,732 shares of the electronics maker’s stock after selling 5,631 shares during the period. Intech Investment Management LLC’s holdings in TE Connectivity were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position 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 period. Olistico Wealth LLC purchased a new stake in shares of TE Connectivity in the 2nd quarter worth approximately $30,000. Armstrong Advisory Group Inc. lifted its position in shares of TE Connectivity by 208.3% in 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 period. Bank & Trust Co purchased a new stake in shares of TE Connectivity in the 2nd quarter worth approximately $35,000. Finally, Wolff Wiese Magana LLC lifted 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 worth $39,000 after purchasing an additional 245 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEL has been the subject of several research reports. The Goldman Sachs Group lowered their price target 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. Bank of America lowered their price target 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. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. StockNews.com started coverage on shares of TE Connectivity in a research report on Sunday, November 24th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company reduced their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $159.55.

TE Connectivity Trading Down 0.0 %

Shares of TE Connectivity stock opened at $151.12 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The firm has a market capitalization of $45.21 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 2.05 and a beta of 1.33. The firm’s 50 day simple moving average is $149.34 and its two-hundred day simple moving average is $149.71.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the business posted $1.78 EPS. TE Connectivity’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is 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.