Chevy Chase Trust Holdings LLC Reduces Holdings in TE Connectivity Ltd. (NYSE:TEL)

Chevy Chase Trust Holdings LLC reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 163,332 shares of the electronics maker’s stock after selling 4,228 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in TE Connectivity were worth $24,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its stake in shares of 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 buying an additional 1,304,199 shares during the period. Dimensional Fund Advisors LP lifted its position in TE Connectivity by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock worth $469,113,000 after acquiring an additional 223,842 shares during the period. Charles Schwab Investment Management Inc. lifted its position in TE Connectivity by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock worth $266,059,000 after acquiring an additional 9,864 shares during the period. Cooke & Bieler LP grew its stake in 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 stake in shares of TE Connectivity by 13.1% in the second quarter. Canada Pension Plan Investment Board now owns 1,434,642 shares of the electronics maker’s stock worth $215,813,000 after purchasing an additional 166,339 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Price Performance

TE Connectivity stock opened at $151.86 on Wednesday. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The company’s fifty day moving average price is $149.52 and its 200 day moving average price is $149.73. The stock has a market capitalization of $45.43 billion, a P/E ratio of 14.79, a P/E/G ratio of 2.10 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 earnings per share. As a group, equities research analysts anticipate 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 authorized a stock repurchase plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

TEL has been the topic of several research reports. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. StockNews.com started coverage on shares of TE Connectivity in a report on Sunday, November 24th. They issued a “buy” rating on the stock. The Goldman Sachs Group reduced their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Finally, HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity presently has a consensus rating of “Hold” and a consensus price target of $159.55.

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.