Nuance Investments LLC Lowers Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Nuance Investments LLC decreased its stake in TE Connectivity Ltd. (NYSE:TEL) by 16.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,940 shares of the electronics maker’s stock after selling 21,516 shares during the period. Nuance Investments LLC’s holdings in TE Connectivity were worth $16,483,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TEL. Price T Rowe Associates Inc. MD grew 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 acquiring an additional 5,526,230 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in 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 purchasing an additional 1,304,199 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of TE Connectivity by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock worth $469,113,000 after purchasing an additional 223,842 shares in the last quarter. Cooke & Bieler LP increased 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 purchasing an additional 55,777 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of TE Connectivity by 13.1% during 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 buying an additional 166,339 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com began coverage on shares of TE Connectivity in a research report on Saturday. They set a “buy” rating on the stock. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a report on Thursday, October 31st. Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lowered their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, TE Connectivity has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Price Performance

Shares of TEL stock opened at $146.95 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The firm has a market cap of $43.96 billion, a P/E ratio of 14.31, a P/E/G ratio of 2.02 and a beta of 1.33. The business’s 50 day moving average price is $148.63 and its 200-day moving average price is $149.45.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting the consensus estimate of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.

TE Connectivity declared that its board has initiated a share repurchase program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

TE Connectivity Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 25th will be issued a $0.65 dividend. The ex-dividend date is Friday, November 22nd. This represents a yield of 1.75%. TE Connectivity’s dividend payout ratio (DPR) is presently 25.32%.

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.