JPMorgan Chase & Co. Sells 486,831 Shares of TE Connectivity Ltd. (NYSE:TEL)

JPMorgan Chase & Co. trimmed its position in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 26.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,347,247 shares of the electronics maker's stock after selling 486,831 shares during the period. JPMorgan Chase & Co. owned approximately 0.45% of TE Connectivity worth $203,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of TEL. State Street Corp lifted its stake in TE Connectivity by 2.1% in the 3rd quarter. State Street Corp now owns 12,852,607 shares of the electronics maker's stock valued at $1,940,615,000 after acquiring an additional 268,837 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker's stock valued at $944,791,000 after purchasing an additional 1,304,199 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of TE Connectivity by 1.3% in the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker's stock worth $899,681,000 after purchasing an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker's stock worth $508,481,000 after purchasing an additional 694,917 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in TE Connectivity by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker's stock valued at $469,113,000 after purchasing an additional 223,842 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on TEL. Wells Fargo & Company reduced their price objective on shares of TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating for the company in a research note on Monday, December 16th. Wolfe Research raised TE Connectivity from a "peer perform" rating to an "outperform" rating in a research report on Thursday, September 5th. HSBC lowered 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. 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 report on Wednesday, October 9th. Finally, StockNews.com upgraded shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, TE Connectivity has an average rating of "Hold" and a consensus target price of $159.36.

TE Connectivity Stock Performance

Shares of TEL stock traded up $0.10 during midday trading on Tuesday, hitting $142.97. 824,907 shares of the company were exchanged, compared to its average volume of 1,788,683. TE Connectivity Ltd. has a 52 week low of $128.52 and a 52 week high of $159.98. The firm has a market capitalization of $42.77 billion, a P/E ratio of 13.92, a PEG ratio of 2.04 and a beta of 1.32. The firm's 50 day moving average price is $149.70 and its two-hundred day moving average price is $149.43. 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 issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.95. The company had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business's revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.78 earnings per share. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is 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.