Chevy Chase Trust Holdings LLC Has $24.66 Million Position in TE Connectivity Ltd. (NYSE:TEL)

Chevy Chase Trust Holdings LLC lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 2.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 163,332 shares of the electronics maker's stock after selling 4,228 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of TE Connectivity worth $24,661,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TEL. Ameriprise Financial Inc. boosted its holdings in TE Connectivity by 26.2% during the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker's stock worth $944,791,000 after buying an additional 1,304,199 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in TE Connectivity by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker's stock worth $469,113,000 after purchasing an additional 223,842 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in 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 worth $266,059,000 after purchasing an additional 9,864 shares during the period. Cooke & Bieler LP boosted its stake in TE Connectivity by 3.3% in the 2nd quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker's stock worth $263,832,000 after purchasing an additional 55,777 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in TE Connectivity by 13.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,434,642 shares of the electronics maker's stock worth $215,813,000 after purchasing an additional 166,339 shares during the period. Institutional investors and hedge funds own 91.43% of the company's stock.

TE Connectivity Stock Performance

TEL traded up $1.37 during trading on Wednesday, hitting $153.21. The stock had a trading volume of 911,413 shares, compared to its average volume of 1,805,058. The firm has a market cap of $45.83 billion, a PE ratio of 14.92, a P/E/G ratio of 2.10 and a beta of 1.32. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $149.67 and a 200-day simple moving average of $149.76.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. The firm had revenue of $4.07 billion for 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 business's quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 EPS. Analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current year.

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

Analyst Ratings Changes

TEL has been the subject of a number of recent analyst reports. Hsbc Global Res lowered shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price 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. Bank of America decreased their target price on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. StockNews.com began coverage on shares of TE Connectivity in a research note on Sunday, November 24th. They set a "buy" rating for the company. Finally, HSBC lowered shares of TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 target price for the company. in a research note on Thursday, October 31st. 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 stock. Based on data from MarketBeat, TE Connectivity has a consensus rating of "Hold" and a consensus target price of $159.55.

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.