Gulf International Bank UK Ltd Lowers Holdings in TE Connectivity Ltd. (NYSE:TEL)

Gulf International Bank UK Ltd lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,639 shares of the electronics maker’s stock after selling 267 shares during the quarter. Gulf International Bank UK Ltd’s holdings in TE Connectivity were worth $3,522,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in TEL. Nomura Asset Management Co. Ltd. raised its holdings in TE Connectivity by 4.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock worth $36,732,000 after purchasing an additional 9,670 shares in the last quarter. Glenmede Trust Co. NA increased its position in TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock worth $29,322,000 after purchasing an additional 23,755 shares during the period. Venturi Wealth Management LLC raised its stake in shares of TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after buying an additional 6,169 shares in the last quarter. Waverton Investment Management Ltd lifted its holdings in shares of TE Connectivity by 8.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after buying an additional 106,688 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of TE Connectivity in the fourth quarter valued at approximately $2,920,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the sale, the insider now directly owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $151.89 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. The business’s fifty day moving average price is $147.66 and its two-hundred day moving average price is $148.66. The stock has a market cap of $45.32 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.92 billion. During the same quarter last year, the company earned $1.84 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TEL shares. Wells Fargo & Company increased their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Citigroup raised their price objective on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective on the stock in a report on Thursday, January 23rd. Bank of America lifted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, TE Connectivity has an average rating of “Hold” and an average target price of $167.00.

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.