TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,091 shares of the electronics maker’s stock after selling 165 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in TE Connectivity were worth $442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TEL. Ameriprise Financial Inc. lifted its position in TE Connectivity by 26.2% in 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 period. Nordea Investment Management AB acquired a new stake in shares of TE Connectivity in the fourth quarter valued at $149,211,000. Franklin Resources Inc. boosted its stake in TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after buying an additional 712,228 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after acquiring an additional 694,917 shares during the period. Finally, Point72 Asset Management L.P. raised its position in TE Connectivity by 238.4% in the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after acquiring an additional 506,754 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TEL stock opened at $146.29 on Monday. The firm has a 50 day moving average of $147.70 and a two-hundred day moving average of $148.78. TE Connectivity Ltd. has a 12 month low of $128.91 and a 12 month high of $159.98. The company has a market capitalization of $43.76 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.91 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.

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

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. The Goldman Sachs Group decreased their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Bank of America cut their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st. Finally, Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and a consensus price target of $160.70.

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.