Atria Investments Inc cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 35.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,789 shares of the electronics maker's stock after selling 4,875 shares during the period. Atria Investments Inc's holdings in TE Connectivity were worth $1,327,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of TEL. Lindbrook Capital LLC lifted its position in TE Connectivity by 160.6% during the third quarter. Lindbrook Capital LLC now owns 1,665 shares of the electronics maker's stock valued at $251,000 after acquiring an additional 1,026 shares during the last quarter. Assetmark Inc. grew its position in TE Connectivity by 11.9% during the 3rd quarter. Assetmark Inc. now owns 2,266 shares of the electronics maker's stock worth $342,000 after purchasing an additional 241 shares during the last quarter. Verdence Capital Advisors LLC acquired a new position in shares of TE Connectivity in the 3rd quarter valued at $213,000. Galvin Gaustad & Stein LLC raised its stake in shares of TE Connectivity by 12.0% in the third quarter. Galvin Gaustad & Stein LLC now owns 4,764 shares of the electronics maker's stock worth $719,000 after purchasing an additional 510 shares during the last quarter. Finally, Washington Trust Bank lifted its position in TE Connectivity by 11.2% during the third quarter. Washington Trust Bank now owns 3,249 shares of the electronics maker's stock valued at $491,000 after purchasing an additional 326 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.
TE Connectivity Trading Down 3.2 %
Shares of NYSE TEL traded down $4.90 during mid-day trading on Friday, reaching $148.35. 1,722,590 shares of the company's stock were exchanged, compared to its average volume of 1,659,305. The firm has a market capitalization of $44.38 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 2.02 and a beta of 1.33. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98. The company's 50-day moving average is $148.50 and its 200-day moving average is $149.29. 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 announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts' consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $4 billion. During the same period last year, the business earned $1.78 earnings per share. The business's revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.
TE Connectivity declared that its board has approved a stock 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 buy 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.
Wall Street Analyst Weigh In
Several research firms have commented on TEL. HSBC lowered TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price objective on the stock. in a research report on Thursday, October 31st. Hsbc Global Res lowered TE Connectivity from a "hold" rating to a "moderate sell" rating in a report on Thursday, October 31st. Bank of America dropped their target price on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. Vertical Research assumed coverage on shares of TE Connectivity in a research note on Tuesday, July 23rd. They issued a "hold" rating and a $155.00 price target on the stock. Finally, Wells Fargo & Company dropped 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 research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, TE Connectivity has an average rating of "Hold" and a consensus price target of $159.55.
Check Out Our Latest Stock Analysis on TEL
TE Connectivity Company Profile
(
Free Report)
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.
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