Rhumbline Advisers Sells 14,117 Shares of TE Connectivity Ltd. (NYSE:TEL)

Rhumbline Advisers cut its position in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 338,368 shares of the electronics maker's stock after selling 14,117 shares during the period. Rhumbline Advisers owned approximately 0.11% of TE Connectivity worth $48,376,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. grew its stake in shares of TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker's stock worth $36,732,000 after buying an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker's stock valued at $29,322,000 after acquiring an additional 23,755 shares during the last quarter. Venturi Wealth Management LLC grew its position in TE Connectivity by 1,632.0% in the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker's stock worth $989,000 after acquiring an additional 6,169 shares in the last quarter. Waverton Investment Management Ltd grew its position in TE Connectivity by 8.2% in the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker's stock worth $213,089,000 after acquiring an additional 106,688 shares in the last quarter. Finally, Meyer Handelman Co. increased its stake in TE Connectivity by 9.9% during the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock worth $14,531,000 after acquiring an additional 9,175 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company's stock.

TE Connectivity Trading Down 0.8 %

TEL stock traded down $1.23 during trading on Friday, hitting $154.55. The company had a trading volume of 1,577,354 shares, compared to its average volume of 1,636,413. The firm has a market capitalization of $46.11 billion, a P/E ratio of 24.69, a PEG ratio of 2.12 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a 50 day simple moving average of $147.20 and a 200-day simple moving average of $148.40.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.06. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company's quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $1.84 earnings per share. As a group, research analysts forecast that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a stock buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TEL. Wells Fargo & Company lifted their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an "equal weight" rating in a report on Thursday, January 23rd. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Citigroup boosted their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Bank of America increased their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, StockNews.com raised shares of TE Connectivity from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $167.00.

Insider Buying and Selling at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now owns 25,976 shares of the company's stock, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is currently owned by corporate insiders.

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.