HB Wealth Management LLC Has $1.84 Million Holdings in TE Connectivity Ltd. (NYSE:TEL)

HB Wealth Management LLC cut its holdings in TE Connectivity Ltd. (NYSE:TEL) by 5.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,875 shares of the electronics maker’s stock after selling 784 shares during the quarter. HB Wealth Management LLC’s holdings in TE Connectivity were worth $1,841,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its stake in TE Connectivity by 4.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after buying an additional 9,670 shares during the period. Glenmede Trust Co. NA raised its position in shares of TE Connectivity by 13.9% during the third 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 period. Venturi Wealth Management LLC raised its position in shares of TE Connectivity by 1,632.0% during the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after purchasing an additional 6,169 shares during the period. Waverton Investment Management Ltd raised its position in shares of TE Connectivity by 8.2% during 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 period. Finally, Oppenheimer Asset Management Inc. raised its position in shares of TE Connectivity by 21.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock worth $10,471,000 after purchasing an additional 12,140 shares during the period. 91.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEL has been the topic of a number of research reports. 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. Bank of America lowered their price target 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. The Goldman Sachs Group lowered their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Wells Fargo & Company lowered their price target on 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. Finally, StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $160.70.

TE Connectivity Trading Up 1.8 %

Shares of TE Connectivity stock opened at $146.29 on Monday. TE Connectivity Ltd. has a 1 year low of $128.91 and a 1 year high of $159.98. The firm has a market cap of $43.76 billion, a PE ratio of 14.24, a P/E/G ratio of 1.91 and a beta of 1.32. The stock has a fifty day moving average price of $147.70 and a 200-day moving average price of $148.78. 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, meeting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same period last year, the firm posted $1.78 EPS. The business’s revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity announced that its Board of Directors has authorized a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s board 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.