TE Connectivity Ltd (TEL) Stake Decreased by Advisory Services Network LLC
Advisory Services Network LLC decreased its holdings in TE Connectivity Ltd (NYSE:TEL) by 56.1% in the fourth quarter, HoldingsChannel reports. The firm owned 471 shares of the electronics maker’s stock after selling 603 shares during the period. Advisory Services Network LLC’s holdings in TE Connectivity were worth $36,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of TEL. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of TE Connectivity by 382.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,834 shares of the electronics maker’s stock worth $1,129,000 after purchasing an additional 10,173 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in TE Connectivity during the 3rd quarter worth about $38,918,000. Laurion Capital Management LP acquired a new stake in TE Connectivity during the 3rd quarter worth about $660,000. Capital Bank & Trust Co lifted its position in TE Connectivity by 77.2% during the 3rd quarter. Capital Bank & Trust Co now owns 1,602 shares of the electronics maker’s stock worth $141,000 after acquiring an additional 698 shares during the period. Finally, Capital Guardian Trust Co. acquired a new stake in TE Connectivity during the 3rd quarter worth about $119,000. 91.44% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on TEL shares. Zacks Investment Research raised TE Connectivity from a “sell” rating to a “hold” rating in a research report on Monday, February 11th. ValuEngine raised TE Connectivity from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reaffirmed a “buy” rating and set a $92.00 price target on shares of TE Connectivity in a research report on Sunday, January 6th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $79.00 price target on shares of TE Connectivity in a research report on Sunday, January 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $95.00.
TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 23rd. The electronics maker reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.01. TE Connectivity had a return on equity of 19.22% and a net margin of 20.06%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The firm’s revenue was up .3% compared to the same quarter last year. As a group, equities research analysts expect that TE Connectivity Ltd will post 5.44 earnings per share for the current year.
TE Connectivity declared that its Board of Directors has initiated a stock buyback plan on Friday, December 14th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, SVP Eric Resch sold 34,050 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $82.70, for a total value of $2,815,935.00. Following the completion of the transaction, the senior vice president now owns 68,790 shares of the company’s stock, valued at approximately $5,688,933. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Heath A. Mitts sold 12,908 shares of the business’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $83.05, for a total value of $1,072,009.40. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.
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TE Connectivity Company Profile
TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors 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.
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