TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC decreased its position in TE Connectivity Ltd. (NYSE:TEL) by 16.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,708 shares of the electronics maker’s stock after selling 3,907 shares during the quarter. Mizuho Securities USA LLC’s holdings in TE Connectivity were worth $2,976,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in TE Connectivity by 36.0% during the 1st quarter. Advisors Asset Management Inc. now owns 24,315 shares of the electronics maker’s stock worth $3,532,000 after acquiring an additional 6,433 shares in the last quarter. LRI Investments LLC purchased a new position in shares of TE Connectivity in the first quarter valued at approximately $72,000. SVB Wealth LLC grew its holdings in shares of TE Connectivity by 3.1% in the first quarter. SVB Wealth LLC now owns 27,027 shares of the electronics maker’s stock valued at $3,925,000 after purchasing an additional 824 shares in the last quarter. Ascent Group LLC purchased a new stake in TE Connectivity during the 1st quarter worth approximately $1,312,000. Finally, Silvercrest Asset Management Group LLC lifted its holdings in TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after buying an additional 68 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TEL shares. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a research report on Thursday, October 31st. StockNews.com began coverage on TE Connectivity in a report on Saturday, November 16th. They set a “buy” rating on the stock. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Wells Fargo & Company cut their target price on shares of 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. Finally, Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Price Performance

Shares of TEL opened at $152.26 on Friday. The firm has a fifty day moving average price of $148.96 and a 200 day moving average price of $149.52. The stock has a market cap of $45.55 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08.

TE Connectivity (NYSE:TEL) last announced its earnings results 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 firm 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%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 EPS. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity announced that its board has approved a stock repurchase plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors 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.