Swiss National Bank Sells 7,600 Shares of TE Connectivity Ltd. (NYSE:TEL)

Swiss National Bank decreased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 906,700 shares of the electronics maker’s stock after selling 7,600 shares during the quarter. Swiss National Bank owned 0.30% of TE Connectivity worth $136,903,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 128 shares during the period. Olistico Wealth LLC acquired a new position in shares of TE Connectivity during the second quarter worth approximately $30,000. Armstrong Advisory Group Inc. lifted its position in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 150 shares in the last quarter. Bank & Trust Co acquired a new position in shares of TE Connectivity during the second quarter worth approximately $35,000. Finally, Wolff Wiese Magana LLC lifted its holdings in 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 buying an additional 245 shares during the period. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

TEL has been the topic of several analyst reports. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. StockNews.com began coverage on shares of TE Connectivity in a research note on Saturday. They issued a “buy” rating for the company. Bank of America lowered their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research note on Thursday, October 31st. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, TE Connectivity has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Stock Down 3.2 %

Shares of TEL stock opened at $148.35 on Monday. The firm has a fifty day moving average of $148.50 and a 200-day moving average of $149.36. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The company has a market capitalization of $44.38 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 2.02 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.95. The business 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 for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 earnings per share. As a group, equities research analysts predict that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

TE Connectivity announced that its Board of Directors has approved a share repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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.