Groupama Asset Managment Sells 8,985 Shares of TE Connectivity Ltd. (NYSE:TEL)

Groupama Asset Managment lessened its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 70.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,834 shares of the electronics maker's stock after selling 8,985 shares during the period. Groupama Asset Managment's holdings in TE Connectivity were worth $579,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TEL. Armstrong Advisory Group Inc. grew its stake in TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. Wolff Wiese Magana LLC lifted its position in TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock worth $39,000 after buying an additional 245 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of TE Connectivity during the 2nd quarter valued at $43,000. Isthmus Partners LLC purchased a new position in shares of TE Connectivity during the 2nd quarter valued at $45,000. Finally, MCF Advisors LLC increased its stake in shares of TE Connectivity by 2,745.5% in the second quarter. MCF Advisors LLC now owns 313 shares of the electronics maker's stock worth $47,000 after acquiring an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Stock Down 0.8 %

Shares of NYSE:TEL traded down $1.16 during trading on Tuesday, hitting $150.34. 1,657,749 shares of the company were exchanged, compared to its average volume of 1,799,880. 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 cap of $44.97 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 2.07 and a beta of 1.32. 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 firm has a fifty day moving average price of $149.76 and a two-hundred day moving average price of $149.76.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. The business had revenue of $4.07 billion during 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 period last year, the business posted $1.78 EPS. As a group, research analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

TEL has been the topic of a number of recent research reports. The Goldman Sachs Group lowered their target price on TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. Bank of America dropped their price objective on TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. StockNews.com upgraded shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a report on Wednesday, December 4th. Wells Fargo & Company decreased their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, September 20th. Finally, Wolfe Research upgraded TE Connectivity from a "peer perform" rating to an "outperform" rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have assigned 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, the stock 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.