TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,268 shares of the electronics maker's stock after selling 4,221 shares during the quarter. Verition Fund Management LLC's holdings in TE Connectivity were worth $7,741,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TEL. Ameriprise Financial Inc. increased its position in TE Connectivity by 26.2% during the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker's stock worth $944,791,000 after purchasing an additional 1,304,199 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of TE Connectivity by 238.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker's stock worth $108,212,000 after buying an additional 506,754 shares during the last quarter. Bank of Montreal Can raised its position 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 buying an additional 347,315 shares during the period. Toronto Dominion Bank boosted its holdings in TE Connectivity by 141.3% in the second 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 during the last quarter. Finally, Mizuho Securities USA LLC grew its position in TE Connectivity by 982.6% during the third quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker's stock valued at $38,602,000 after acquiring an additional 232,044 shares during the period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Stock Up 2.1 %

TEL stock traded up $3.21 during midday trading on Monday, hitting $154.33. 1,396,619 shares of the company's stock were exchanged, compared to its average volume of 1,810,724. The stock has a market capitalization of $46.17 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 2.05 and a beta of 1.33. 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 firm has a 50 day moving average price of $149.34 and a 200-day moving average price of $149.70. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL - Get Free Report) last posted its quarterly 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. The firm had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 earnings per share. On average, analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com initiated coverage on TE Connectivity in a research note on Sunday, November 24th. They issued a "buy" rating on the stock. HSBC cut shares of TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. Bank of America dropped their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a "buy" rating for the company in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their price target on shares of TE Connectivity from $155.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, September 20th. Finally, The Goldman Sachs Group cut their price objective on TE Connectivity from $189.00 to $179.00 and set a "buy" rating on the stock in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, TE Connectivity has a consensus rating of "Hold" and an average price target 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.