Campbell Newman Asset Management Inc. Trims Stake in TE Connectivity Ltd. (NYSE:TEL)

Campbell Newman Asset Management Inc. trimmed its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 251,627 shares of the electronics maker's stock after selling 19,133 shares during the period. TE Connectivity accounts for about 2.9% of Campbell Newman Asset Management Inc.'s investment portfolio, making the stock its 12th biggest holding. Campbell Newman Asset Management Inc. owned about 0.08% of TE Connectivity worth $35,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Armstrong Advisory Group Inc. grew its holdings in shares of TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock worth $34,000 after acquiring an additional 150 shares during the period. Wolff Wiese Magana LLC grew its stake in TE Connectivity by 2,450.0% in the third 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. Hilltop National Bank purchased a new position in TE Connectivity during the fourth quarter valued at $55,000. Vestor Capital LLC bought a new stake in shares of TE Connectivity during the 3rd quarter valued at $66,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of TE Connectivity in the 3rd quarter worth about $75,000. Institutional investors own 91.43% of the company's stock.

Analyst Ratings Changes

TEL has been the topic of a number of analyst reports. HSBC cut 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. Hsbc Global Res lowered TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. Wells Fargo & Company dropped their price target on shares of TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating on the stock in a research note on Monday, December 16th. The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a research note on Tuesday, October 1st. Finally, Bank of America dropped their target price on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, TE Connectivity currently has a consensus rating of "Moderate Buy" and an average target price of $160.70.

TE Connectivity Stock Performance

Shares of TEL traded up $0.77 during mid-day trading on Wednesday, hitting $143.67. 2,116,498 shares of the company traded hands, compared to its average volume of 1,405,847. The stock has a market cap of $42.98 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 2.04 and a beta of 1.32. The stock has a 50-day moving average price of $148.33 and a two-hundred day moving average price of $148.88. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting analysts' consensus estimates of $1.95. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm's revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. Equities analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its stock is undervalued.

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.