Bright Futures Wealth Management LLC. Sells 80 Shares of TE Connectivity Ltd. (NYSE:TEL)

Bright Futures Wealth Management LLC. trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,100 shares of the electronics maker’s stock after selling 80 shares during the period. Bright Futures Wealth Management LLC.’s holdings in TE Connectivity were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Optas LLC boosted its holdings in shares of TE Connectivity by 4.2% in the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after acquiring an additional 71 shares during the period. OLD National Bancorp IN raised its position in shares of TE Connectivity by 3.6% in the third quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock worth $374,000 after buying an additional 85 shares in the last quarter. Metis Global Partners LLC raised its position in shares of TE Connectivity by 1.0% in the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock worth $1,475,000 after buying an additional 96 shares in the last quarter. Insigneo Advisory Services LLC raised its position in shares of TE Connectivity by 2.4% in the third quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock worth $684,000 after buying an additional 108 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in shares of TE Connectivity by 6.4% in the third quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock worth $295,000 after buying an additional 117 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Up 4.6 %

TEL opened at $153.27 on Friday. The company has a market cap of $45.73 billion, a P/E ratio of 24.48, a P/E/G ratio of 2.01 and a beta of 1.32. The business’s 50-day moving average price is $146.76 and its 200-day moving average price is $148.19. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12 month low of $137.61 and a 12 month high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 earnings per share. On average, equities analysts expect that TE Connectivity Ltd. will post 7.95 EPS for the current year.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Bank of America increased their price objective on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Citigroup raised their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research report on Thursday, January 23rd. Finally, StockNews.com downgraded TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and a consensus price target of $167.00.

Insider Buying and Selling

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by insiders.

TE Connectivity 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.