Campbell Newman Asset Management Inc. Sells 19,133 Shares of TE Connectivity Ltd. (NYSE:TEL)

Campbell Newman Asset Management Inc. lowered its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 7.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 251,627 shares of the electronics maker’s stock after selling 19,133 shares during the period. TE Connectivity comprises about 2.9% of Campbell Newman Asset Management Inc.’s portfolio, making the stock its 12th biggest holding. Campbell Newman Asset Management Inc.’s holdings in TE Connectivity were worth $35,975,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. raised its stake 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 last quarter. Wolff Wiese Magana LLC lifted its stake in 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 in the last quarter. Hilltop National Bank purchased a new position in shares of TE Connectivity during the fourth quarter worth about $55,000. Vestor Capital LLC purchased a new stake in TE Connectivity during the third quarter valued at about $66,000. Finally, Ashton Thomas Securities LLC bought a new stake in TE Connectivity in the 3rd quarter worth approximately $75,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TEL. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a report on Thursday, October 31st. The Goldman Sachs Group decreased their price target on shares of 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 dropped their target price on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. Finally, Bank of America lowered their price objective 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. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.70.

TE Connectivity Price Performance

TE Connectivity stock traded up $2.76 during midday trading on Wednesday, reaching $145.66. 61,147 shares of the stock traded hands, compared to its average volume of 1,172,462. The stock’s fifty day moving average is $148.33 and its 200-day moving average is $148.88. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The stock has a market cap of $43.58 billion, a P/E ratio of 14.18, a PEG ratio of 2.04 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted 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 for 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 business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 earnings per share. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current year.

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