TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 6.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,029,410 shares of the electronics maker's stock after selling 73,445 shares during the period. Royal London Asset Management Ltd. owned about 0.34% of TE Connectivity worth $155,431,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TEL. Ameriprise Financial Inc. increased its stake in shares of TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker's stock valued at $944,791,000 after buying an additional 1,304,199 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of TE Connectivity by 238.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker's stock worth $108,212,000 after purchasing an additional 506,754 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of TE Connectivity by 43.0% in the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker's stock worth $174,955,000 after purchasing an additional 347,315 shares in the last quarter. Toronto Dominion Bank lifted its stake in TE Connectivity by 141.3% during the 2nd quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker's stock valued at $70,445,000 after acquiring an additional 274,206 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its stake in shares of TE Connectivity by 982.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker's stock worth $38,602,000 after purchasing an additional 232,044 shares during the period. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Price Performance

Shares of NYSE TEL traded up $0.18 during midday trading on Thursday, hitting $153.38. The stock had a trading volume of 237,890 shares, compared to its average volume of 1,798,253. The company has a market capitalization of $45.89 billion, a PE ratio of 14.92, a P/E/G ratio of 2.06 and a beta of 1.32. The stock has a 50 day simple moving average of $149.67 and a 200-day simple moving average of $149.76. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27.

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. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter last year, the business posted $1.78 earnings per share. The business's quarterly revenue was up .8% compared to the same quarter last year. On average, sell-side analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity announced that its board has approved a share buyback 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 reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TEL. StockNews.com upgraded TE Connectivity from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Hsbc Global Res downgraded TE Connectivity from a "hold" rating to a "moderate sell" rating in a research report on Thursday, October 31st. Wells Fargo & Company reduced their target price on TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating on the stock in a research note on Friday, September 20th. Wolfe Research raised TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. Finally, HSBC cut TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 target price on the stock. in a research note on Thursday, October 31st. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $159.55.

TE Connectivity Profile

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.