TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Fmr LLC

FMR LLC lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,181,282 shares of the electronics maker's stock after selling 21,073 shares during the period. FMR LLC owned 0.39% of TE Connectivity worth $178,362,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TEL. Versant Capital Management Inc raised its holdings in TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker's stock valued at $28,000 after buying an additional 128 shares during the period. Olistico Wealth LLC purchased a new position in TE Connectivity during the second quarter valued at approximately $30,000. Armstrong Advisory Group Inc. grew its holdings in TE Connectivity by 208.3% in the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 150 shares during the period. Wolff Wiese Magana LLC boosted its stake in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker's stock worth $39,000 after acquiring an additional 245 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in TE Connectivity during the second quarter worth $43,000. Hedge funds and other institutional investors own 91.43% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Hsbc Global Res cut TE Connectivity from a "hold" rating to a "moderate sell" rating 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 on the stock in a research note on Wednesday, October 9th. StockNews.com started coverage on TE Connectivity in a research report on Sunday, November 24th. They set a "buy" rating on the stock. Wolfe Research raised shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. Finally, HSBC downgraded shares of TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $159.55.

TE Connectivity Stock Down 1.5 %

TEL traded down $2.25 during trading on Tuesday, reaching $152.08. The stock had a trading volume of 529,516 shares, compared to its average volume of 1,805,062. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98. 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 stock's 50 day moving average is $149.34 and its two-hundred day moving average is $149.70. The company has a market capitalization of $45.50 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 2.05 and a beta of 1.32.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting 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%. TE Connectivity's revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 EPS. As a group, analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

TE Connectivity announced that its Board of Directors has authorized a share buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding 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 often a sign that the company's management believes its shares are undervalued.

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.