First National Trust Co Decreases Stake in TE Connectivity Ltd. (NYSE:TEL)

First National Trust Co lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 7.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,646 shares of the electronics maker’s stock after selling 305 shares during the quarter. First National Trust Co’s holdings in TE Connectivity were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of TEL. Waverton Investment Management Ltd boosted its position in TE Connectivity by 8.2% in the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock worth $213,089,000 after purchasing an additional 106,688 shares during the last quarter. Entropy Technologies LP boosted its holdings in shares of TE Connectivity by 16.0% in the 3rd quarter. Entropy Technologies LP now owns 38,295 shares of the electronics maker’s stock worth $5,782,000 after buying an additional 5,279 shares during the last quarter. Apollon Wealth Management LLC grew its position in TE Connectivity by 2.7% during the third quarter. Apollon Wealth Management LLC now owns 8,346 shares of the electronics maker’s stock valued at $1,260,000 after buying an additional 223 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in TE Connectivity by 15.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 8,356 shares of the electronics maker’s stock worth $1,262,000 after buying an additional 1,089 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in TE Connectivity by 1,632.0% in the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after acquiring an additional 6,169 shares during the period. 91.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Vertical Research initiated coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 target price on the stock. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a research note on Thursday, October 31st. Robert W. Baird boosted their price objective on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company cut their target price 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. One 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’s stock. Based on data from MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Price Performance

TE Connectivity stock opened at $154.71 on Thursday. The stock has a market cap of $47.02 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 2.09 and a beta of 1.33. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The business has a 50-day simple moving average of $148.14 and a 200 day simple moving average of $149.13. TE Connectivity Ltd. has a 52 week low of $126.87 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share 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 business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company posted $1.78 EPS. On average, research analysts forecast that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

TE Connectivity declared that its board has approved a stock repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board 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.