John G Ullman & Associates Inc. Sells 1,100 Shares of TE Connectivity Ltd. (NYSE:TEL)

John G Ullman & Associates Inc. lessened its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,637 shares of the electronics maker’s stock after selling 1,100 shares during the quarter. TE Connectivity comprises approximately 2.4% of John G Ullman & Associates Inc.’s investment portfolio, making the stock its 8th biggest holding. John G Ullman & Associates Inc.’s holdings in TE Connectivity were worth $16,403,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. 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 period. Ameriprise Financial Inc. raised its stake in shares of TE Connectivity by 26.2% during the second 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. Dimensional Fund Advisors LP grew its holdings in TE Connectivity by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock worth $469,113,000 after acquiring an additional 223,842 shares during the period. Cooke & Bieler LP raised its position in shares of TE Connectivity by 3.3% during the 2nd quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker’s stock valued at $263,832,000 after acquiring an additional 55,777 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of TE Connectivity by 13.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,434,642 shares of the electronics maker’s stock valued at $215,813,000 after purchasing an additional 166,339 shares during the period. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Performance

NYSE TEL opened at $147.88 on Thursday. The company’s 50 day simple moving average is $148.70 and its two-hundred day simple moving average is $149.44. The stock has a market capitalization of $44.24 billion, a PE ratio of 14.40, a P/E/G ratio of 2.00 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 $128.52 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.95. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 EPS. Analysts predict that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 25th will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, November 22nd. This represents a yield of 1.75%. TE Connectivity’s dividend payout ratio is currently 25.32%.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TEL shares. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Robert W. Baird upped their target price 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. The Goldman Sachs Group reduced their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Bank of America dropped their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company lowered their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Company 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.