Stephens Inc. AR Decreases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Stephens Inc. AR decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,268 shares of the electronics maker’s stock after selling 271 shares during the period. Stephens Inc. AR’s holdings in TE Connectivity were worth $1,701,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TEL. Price T Rowe Associates Inc. MD increased its position in TE Connectivity by 54.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after purchasing an additional 5,526,230 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of TE Connectivity by 26.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after buying an additional 1,304,199 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of TE Connectivity by 238.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after buying an additional 506,754 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of TE Connectivity by 43.0% in the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after acquiring an additional 347,315 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in TE Connectivity by 141.3% in the second quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock worth $70,445,000 after acquiring an additional 274,206 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Performance

Shares of TEL stock opened at $150.10 on Tuesday. The firm has a market cap of $45.62 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 2.00 and a beta of 1.33. TE Connectivity Ltd. has a 52-week low of $123.79 and a 52-week high of $159.98. The company has a quick ratio of 0.99, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $147.89 and its 200 day moving average is $148.60.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $4 billion. During the same period in the prior year, the business posted $1.78 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.16 EPS for the current fiscal year.

TE Connectivity declared that its board has initiated a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits 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 shares are undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on TEL shares. Vertical Research began coverage on TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price target on the stock. Wells Fargo & Company cut their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research note on Thursday, October 31st. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $159.55.

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.