Avior Wealth Management LLC Sells 459 Shares of TE Connectivity Ltd. (NYSE:TEL)

Avior Wealth Management LLC lessened its stake in TE Connectivity Ltd. (NYSE:TEL) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,891 shares of the electronics maker’s stock after selling 459 shares during the period. Avior Wealth Management LLC’s holdings in TE Connectivity were worth $985,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mutual Advisors LLC raised its position in TE Connectivity by 23.6% during the 4th quarter. Mutual Advisors LLC now owns 3,692 shares of the electronics maker’s stock valued at $531,000 after purchasing an additional 704 shares during the last quarter. SG Americas Securities LLC bought a new position in TE Connectivity during the 4th quarter valued at approximately $779,000. Dakota Wealth Management raised its position in TE Connectivity by 5.5% during the 4th quarter. Dakota Wealth Management now owns 14,347 shares of the electronics maker’s stock valued at $2,051,000 after purchasing an additional 748 shares during the last quarter. Ballentine Partners LLC raised its position in TE Connectivity by 2.6% during the 4th quarter. Ballentine Partners LLC now owns 4,907 shares of the electronics maker’s stock valued at $702,000 after purchasing an additional 125 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB bought a new position in TE Connectivity during the 4th quarter valued at approximately $5,620,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Performance

TE Connectivity stock opened at $154.64 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $46.16 billion, a P/E ratio of 24.70, a PEG ratio of 2.12 and a beta of 1.32. The stock’s 50 day moving average is $147.49 and its 200 day moving average is $148.86. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3,916,310.63 billion. During the same period last year, the business posted $1.84 EPS. The company’s revenue was up .1% compared to the same quarter last year. On average, equities research analysts predict that TE Connectivity Ltd. will post 8.1 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on TEL. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday. Robert W. Baird upped their price target on TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday. Citigroup upped their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Company upped their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a report on Thursday. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $165.00.

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.