Private Advisor Group LLC Sells 2,336 Shares of TE Connectivity Ltd. (NYSE:TEL)

Private Advisor Group LLC reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 14.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,726 shares of the electronics maker’s stock after selling 2,336 shares during the period. Private Advisor Group LLC’s holdings in TE Connectivity were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB bought a new stake in TE Connectivity in the fourth quarter valued at $149,211,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of TE Connectivity by 2,330.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock valued at $107,738,000 after purchasing an additional 722,565 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after purchasing an additional 712,228 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in shares of TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after purchasing an additional 694,917 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in TE Connectivity during the 4th quarter valued at about $46,675,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

Shares of NYSE:TEL opened at $151.98 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The stock has a market capitalization of $45.34 billion, a P/E ratio of 24.28, a P/E/G ratio of 2.11 and a beta of 1.32. The business has a 50-day moving average price of $147.35 and a two-hundred day moving average price of $148.61.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 19th. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company raised their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Finally, Bank of America lifted their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.90% of the stock is currently owned by company insiders.

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.