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

Vinva Investment Management Ltd lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Public Sector Pension Investment Board raised its holdings in TE Connectivity by 13.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 13,076 shares of the electronics maker’s stock worth $1,974,000 after acquiring an additional 1,600 shares during the period. Financial Counselors Inc. boosted its holdings in TE Connectivity by 2.8% during the third quarter. Financial Counselors Inc. now owns 151,878 shares of the electronics maker’s stock valued at $22,932,000 after acquiring an additional 4,131 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of TE Connectivity by 13.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 322,696 shares of the electronics maker’s stock valued at $48,724,000 after purchasing an additional 38,539 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of TE Connectivity by 141.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 255,800 shares of the electronics maker’s stock worth $38,623,000 after purchasing an additional 150,000 shares during the period. Finally, Glenmede Trust Co. NA lifted its position in shares of TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after purchasing an additional 23,755 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

TEL has been the topic of several research analyst reports. Bank of America lowered their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Wells Fargo & Company cut their price objective 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. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Stock Performance

Shares of NYSE:TEL opened at $151.12 on Friday. The stock has a market capitalization of $45.21 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 2.05 and a beta of 1.33. The business’s fifty day moving average price is $149.34 and its two-hundred day moving average price is $149.71. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week 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, hitting analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter last year, the company posted $1.78 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity declared that its board has initiated a share repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is 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.