Vinva Investment Management Ltd Sells 851 Shares of TE Connectivity Ltd. (NYSE:TEL)

Vinva Investment Management Ltd trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL) by 8.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,680 shares of the electronics maker’s stock after selling 851 shares during the quarter. Vinva Investment Management Ltd’s holdings in TE Connectivity were worth $1,464,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TEL. StockNews.com started coverage on TE Connectivity in a report on Sunday, November 24th. They set a “buy” rating for the company. Bank of America lowered their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. The Goldman Sachs Group cut their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research note on Thursday, October 31st. Finally, Wells Fargo & Company cut 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity Trading Down 0.0 %

NYSE TEL opened at $151.12 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The stock’s 50-day moving average is $149.34 and its 200-day moving average is $149.71. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98. The firm has a market cap of $45.21 billion, a P/E ratio of 14.71, a P/E/G ratio of 2.05 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Sell-side analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity announced that its board has initiated a stock buyback plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors 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.