Raymond James Trust N.A. Trims Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Raymond James Trust N.A. trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL) by 6.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 17,264 shares of the electronics maker’s stock after selling 1,143 shares during the period. Raymond James Trust N.A.’s holdings in TE Connectivity were worth $2,586,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its position in shares of TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after purchasing an additional 1,304,199 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of TE Connectivity by 238.4% during the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after acquiring an additional 506,754 shares during the last quarter. Bank of Montreal Can raised its stake 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 period. Toronto Dominion Bank lifted its holdings in shares of TE Connectivity by 141.3% in the 2nd 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 during the last quarter. Finally, Mizuho Securities USA LLC boosted its position in shares of TE Connectivity by 982.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker’s stock worth $38,602,000 after purchasing an additional 232,044 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

TEL has been the topic of a number of research analyst reports. Bank of America cut their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company decreased their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. StockNews.com started coverage on shares of TE Connectivity in a research note on Sunday. They set a “buy” rating on the stock. Finally, The Goldman Sachs Group dropped their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity Trading Up 1.6 %

Shares of NYSE:TEL opened at $152.26 on Friday. TE Connectivity Ltd. has a 52 week low of $128.52 and a 52 week high of $159.98. The company’s 50 day moving average is $148.96 and its two-hundred day moving average is $149.56. The company has a market cap of $45.55 billion, a PE ratio of 14.83, a P/E/G ratio of 2.04 and a beta of 1.33. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. The firm had revenue of $4.07 billion for 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 revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.78 earnings per share. Equities analysts predict that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a share buyback plan 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 plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.