Mn Services Vermogensbeheer B.V. Lowers Position in TE Connectivity Ltd. (NYSE:TEL)

Mn Services Vermogensbeheer B.V. trimmed its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,553 shares of the electronics maker’s stock after selling 1,000 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in TE Connectivity were worth $18,202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc grew its position in shares of TE Connectivity by 209.8% during the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 128 shares in the last quarter. Olistico Wealth LLC bought a new stake in TE Connectivity in the 2nd quarter worth approximately $30,000. Armstrong Advisory Group Inc. raised its holdings in shares of TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares in the last quarter. Bank & Trust Co bought a new position in shares of TE Connectivity during the 2nd quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC grew its holdings in shares of TE Connectivity by 2,450.0% in the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Trading Up 0.1 %

Shares of TEL opened at $150.10 on Tuesday. The firm has a market capitalization of $45.62 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 2.04 and a beta of 1.33. 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 Ltd. has a 1-year low of $123.79 and a 1-year high of $159.98. The company has a 50-day moving average of $147.89 and a 200 day moving average of $148.60.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 earnings per share. On average, research analysts expect that TE Connectivity Ltd. will post 8.15 EPS for the current year.

TE Connectivity announced that its board has authorized a share buyback program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TEL shares. Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. HSBC downgraded shares of 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. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $159.55.

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.