Chevy Chase Trust Holdings LLC Reduces Stake in TE Connectivity Ltd. (NYSE:TEL)

Chevy Chase Trust Holdings LLC trimmed its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,362 shares of the electronics maker's stock after selling 5,970 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of TE Connectivity worth $22,498,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Optas LLC increased its holdings in TE Connectivity by 4.2% in the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker's stock worth $268,000 after acquiring an additional 71 shares in the last quarter. OLD National Bancorp IN grew its holdings in TE Connectivity by 3.6% during the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker's stock valued at $374,000 after buying an additional 85 shares in the last quarter. Metis Global Partners LLC grew its holdings in TE Connectivity by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker's stock valued at $1,475,000 after buying an additional 96 shares in the last quarter. Insigneo Advisory Services LLC grew its holdings in TE Connectivity by 2.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker's stock valued at $684,000 after buying an additional 108 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its holdings in TE Connectivity by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker's stock valued at $295,000 after buying an additional 117 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

Shares of TEL traded up $1.68 during trading hours on Wednesday, hitting $156.10. 1,523,101 shares of the stock were exchanged, compared to its average volume of 1,641,456. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The company has a market cap of $46.57 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 2.07 and a beta of 1.32. The stock's 50-day moving average price is $146.90 and its two-hundred day moving average price is $148.21.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm's quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $1.84 EPS. Research analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity announced that its board has initiated a share repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently weighed in on TEL. Hsbc Global Res upgraded TE Connectivity from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 23rd. StockNews.com upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Citigroup raised their price target on TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Bank of America raised their price target on TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company raised their price target on TE Connectivity from $151.00 to $155.00 and gave the company an "equal weight" rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $167.00.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now owns 25,976 shares of the company's stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.90% of the company's stock.

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.