Hardy Reed LLC Decreases Stake in TE Connectivity Ltd. (NYSE:TEL)

Hardy Reed LLC lowered its holdings in TE Connectivity Ltd. (NYSE:TEL) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,803 shares of the electronics maker’s stock after selling 83 shares during the period. Hardy Reed LLC’s holdings in TE Connectivity were worth $725,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TEL. Cadence Bank purchased a new stake in shares of TE Connectivity during the 3rd quarter worth approximately $204,000. Transamerica Financial Advisors Inc. grew its holdings in TE Connectivity by 34.5% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,329 shares of the electronics maker’s stock valued at $201,000 after purchasing an additional 341 shares during the period. BNP Paribas Financial Markets increased its position in TE Connectivity by 28.4% in the third quarter. BNP Paribas Financial Markets now owns 549,781 shares of the electronics maker’s stock worth $83,011,000 after buying an additional 121,554 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of TE Connectivity by 2.1% in the third quarter. D.A. Davidson & CO. now owns 20,502 shares of the electronics maker’s stock valued at $3,100,000 after buying an additional 413 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of TE Connectivity by 2.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 336,096 shares of the electronics maker’s stock valued at $50,747,000 after buying an additional 8,360 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

TEL has been the topic of a number of research reports. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lowered 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. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Sunday. They issued a “buy” rating for the company. HSBC downgraded 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, Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Stock Down 1.9 %

Shares of NYSE TEL opened at $149.84 on Wednesday. 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 business has a 50-day moving average of $149.14 and a 200-day moving average of $149.67. The firm has a market capitalization of $44.83 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.07 and a beta of 1.33. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98.

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

TE Connectivity announced that its Board of Directors has initiated a stock buyback 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 usually an indication that the company’s board of directors believes its shares are undervalued.

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.