BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Position in TE Connectivity Ltd. (NYSE:TEL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 240,672 shares of the electronics maker’s stock after selling 10,081 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in TE Connectivity were worth $36,339,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in TE Connectivity by 209.8% in the 2nd 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 purchased a new position in shares of TE Connectivity during the 2nd quarter worth $30,000. Armstrong Advisory Group Inc. raised its holdings in TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after buying an additional 150 shares during the period. Bank & Trust Co purchased a new stake in TE Connectivity in the 2nd quarter valued at about $35,000. Finally, Wolff Wiese Magana LLC increased its stake in TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares during the period. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Trading Down 0.0 %

NYSE:TEL opened at $151.12 on Friday. The stock has a market capitalization of $45.21 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 2.05 and a beta of 1.33. The stock has a fifty day moving average price of $149.34 and a two-hundred day moving average price of $149.71. 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 1 year low of $128.52 and a 1 year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the firm earned $1.78 EPS. The business’s revenue was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity announced that its board has approved a share buyback program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

TEL has been the topic of a number of recent research reports. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research note on Thursday, October 31st. Wells Fargo & Company cut their price target on shares of 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. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Sunday, November 24th. They set a “buy” rating on the stock. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Finally, Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $159.55.

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.