TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 25.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,800 shares of the electronics maker's stock after selling 3,690 shares during the quarter. Everence Capital Management Inc.'s holdings in TE Connectivity were worth $1,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TEL. Nomura Asset Management Co. Ltd. grew its holdings in shares of TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker's stock worth $36,732,000 after acquiring an additional 9,670 shares during the period. Glenmede Trust Co. NA grew its holdings in TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker's stock valued at $29,322,000 after purchasing an additional 23,755 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of TE Connectivity by 1,632.0% in the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker's stock valued at $989,000 after buying an additional 6,169 shares in the last quarter. Waverton Investment Management Ltd raised its stake in shares of TE Connectivity by 8.2% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker's stock worth $213,089,000 after buying an additional 106,688 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of TE Connectivity by 21.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker's stock worth $10,471,000 after buying an additional 12,140 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Trading Up 1.3 %

Shares of NYSE TEL traded up $1.76 on Friday, reaching $142.40. 1,356,350 shares of the company traded hands, compared to its average volume of 1,313,075. The company has a 50 day moving average of $149.39 and a 200 day moving average of $149.27. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The stock has a market capitalization of $42.60 billion, a PE ratio of 13.87, a P/E/G ratio of 2.04 and a beta of 1.32.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts' consensus estimates of $1.95. The company 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%. TE Connectivity's revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 earnings per share. On average, equities research analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity declared that its board has authorized a stock 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 repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

TEL has been the subject of several recent research reports. Hsbc Global Res downgraded shares of TE Connectivity from a "hold" rating to a "moderate sell" rating in a report on Thursday, October 31st. Bank of America cut their price objective on TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company lowered their target price on TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating on the stock in a report on Monday, December 16th. StockNews.com raised TE Connectivity from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group dropped their price objective on TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $159.36.

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.