National Bank of Canada FI Sells 87,103 Shares of TE Connectivity Ltd. (NYSE:TEL)

National Bank of Canada FI cut its holdings in TE Connectivity Ltd. (NYSE:TEL - Free Report) by 94.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,480 shares of the electronics maker's stock after selling 87,103 shares during the quarter. National Bank of Canada FI's holdings in TE Connectivity were worth $827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of research firms have weighed in on TEL. The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a "buy" rating for the company in a research note on Tuesday, October 1st. Wolfe Research raised shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research report on Thursday, September 5th. 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 reduced their target price on TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. Finally, HSBC downgraded 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $159.55.

TE Connectivity Stock Performance

Shares of TE Connectivity stock traded down $1.23 during trading hours on Friday, reaching $150.09. 1,045,879 shares of the stock traded hands, compared to its average volume of 1,339,174. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98. The firm has a market capitalization of $44.90 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 2.04 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $150.10 and a 200 day moving average price of $149.76.

TE Connectivity (NYSE:TEL - Get Free Report) last announced 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. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the business posted $1.78 earnings per share. The firm's quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

TE Connectivity Company 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.