TE Connectivity Ltd. (NYSE:TEL) Stock Holdings Decreased by Ninety One UK Ltd

Ninety One UK Ltd decreased its position in TE Connectivity Ltd. (NYSE:TEL) by 26.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 832,705 shares of the electronics maker’s stock after selling 292,855 shares during the period. Ninety One UK Ltd owned about 0.28% of TE Connectivity worth $119,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after buying an additional 268,837 shares during the period. Geode Capital Management LLC lifted its stake in TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after acquiring an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after acquiring an additional 694,917 shares during the period. Franklin Resources Inc. grew its stake in TE Connectivity by 31.1% during the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after acquiring an additional 712,228 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of TE Connectivity by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock valued at $266,059,000 after purchasing an additional 9,864 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TEL. Citigroup boosted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Bank of America upped their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Robert W. Baird lifted their price objective on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Wells Fargo & Company upped their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Finally, StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

TE Connectivity Price Performance

NYSE TEL opened at $144.75 on Wednesday. The company has a market cap of $43.19 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.03 and a beta of 1.32. TE Connectivity Ltd. has a 1 year low of $137.61 and a 1 year high of $159.98. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $147.43 and a 200 day simple moving average of $148.49.

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. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period last year, the business posted $1.84 earnings per share. On average, sell-side analysts predict that TE Connectivity Ltd. will post 7.96 EPS for the current year.

TE Connectivity announced that its board has authorized a stock buyback plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board 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.