Nuance Investments LLC Sells 21,516 Shares of TE Connectivity Ltd. (NYSE:TEL)

Nuance Investments LLC cut its stake in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 16.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,940 shares of the electronics maker's stock after selling 21,516 shares during the quarter. Nuance Investments LLC's holdings in TE Connectivity were worth $16,483,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. O Shaughnessy Asset Management LLC grew its stake in TE Connectivity by 37.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 32,410 shares of the electronics maker's stock worth $4,707,000 after buying an additional 8,894 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in shares of TE Connectivity by 63.3% in the first quarter. Lake Street Advisors Group LLC now owns 2,527 shares of the electronics maker's stock valued at $367,000 after buying an additional 980 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of TE Connectivity by 5.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 283,128 shares of the electronics maker's stock valued at $41,117,000 after buying an additional 15,052 shares during the period. Freestone Capital Holdings LLC increased its stake in shares of TE Connectivity by 3.7% in the first quarter. Freestone Capital Holdings LLC now owns 20,947 shares of the electronics maker's stock valued at $3,042,000 after buying an additional 748 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of TE Connectivity by 36.0% during the 1st quarter. Advisors Asset Management Inc. now owns 24,315 shares of the electronics maker's stock valued at $3,532,000 after purchasing an additional 6,433 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Performance

NYSE TEL traded up $0.93 on Wednesday, hitting $147.88. 1,012,954 shares of the company traded hands, compared to its average volume of 1,823,137. The company has a market capitalization of $44.24 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 2.02 and a beta of 1.33. 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 business's 50 day moving average price is $148.63 and its 200-day moving average price is $149.45. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting the consensus estimate 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 return on equity of 18.48% and a net margin of 20.15%. TE Connectivity's quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. Equities analysts expect that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has initiated a stock buyback 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 typically a sign that the company's management believes its stock is undervalued.

TE Connectivity Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 25th will be given a $0.65 dividend. The ex-dividend date is Friday, November 22nd. This represents a dividend yield of 1.75%. TE Connectivity's payout ratio is 25.32%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Hsbc Global Res lowered TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. StockNews.com initiated coverage on TE Connectivity in a report on Saturday. They issued a "buy" rating on the stock. Wolfe Research raised TE Connectivity from a "peer perform" rating to an "outperform" rating in a research report on Thursday, September 5th. Wells Fargo & Company reduced their price target on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, September 20th. Finally, HSBC cut TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price objective on the stock. in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, TE Connectivity currently has a consensus rating of "Hold" and an average target price of $159.55.

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.