Kestra Private Wealth Services LLC Reduces Stake in TE Connectivity Ltd. (NYSE:TEL)

Kestra Private Wealth Services LLC trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL) by 16.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,361 shares of the electronics maker’s stock after selling 855 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in TE Connectivity were worth $623,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new stake in TE Connectivity during the 3rd quarter worth $235,000. Creative Planning grew its holdings in shares of TE Connectivity by 3.0% during the third quarter. Creative Planning now owns 42,019 shares of the electronics maker’s stock worth $6,345,000 after purchasing an additional 1,237 shares during the last quarter. Swedbank AB lifted its holdings in shares of TE Connectivity by 1.0% in the 3rd quarter. Swedbank AB now owns 70,792 shares of the electronics maker’s stock valued at $10,689,000 after purchasing an additional 684 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in shares of TE Connectivity by 5.7% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 3,343 shares of the electronics maker’s stock valued at $505,000 after purchasing an additional 180 shares during the period. Finally, Wolff Wiese Magana LLC grew its stake in TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after buying an additional 245 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $152.87 on Friday. The company’s fifty day moving average is $146.78 and its two-hundred day moving average is $148.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The firm has a market capitalization of $45.61 billion, a P/E ratio of 24.42, a PEG ratio of 2.01 and a beta of 1.32. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the business posted $1.84 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts forecast that TE Connectivity Ltd. will post 7.95 EPS for the current fiscal year.

TE Connectivity declared that its board has authorized a stock buyback plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TEL shares. StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Robert W. Baird lifted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Bank of America upped their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $167.00.

Insider Buying and Selling

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by 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.