Versor Investments LP Has $393,000 Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Versor Investments LP cut its stake in TE Connectivity Ltd. (NYSE:TEL) by 49.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,600 shares of the electronics maker’s stock after selling 2,500 shares during the quarter. Versor Investments LP’s holdings in TE Connectivity were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of TE Connectivity by 54.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after acquiring an additional 5,526,230 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after acquiring an additional 1,304,199 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of TE Connectivity by 7.7% in the second 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 last quarter. Cooke & Bieler LP increased its stake in shares of TE Connectivity by 3.3% in the second quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker’s stock worth $263,832,000 after acquiring an additional 55,777 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in TE Connectivity by 13.1% during 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 buying an additional 166,339 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Down 1.0 %

Shares of TEL opened at $153.26 on Friday. The stock has a market cap of $46.58 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 2.09 and a beta of 1.33. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. The company has a 50-day moving average price of $148.28 and a two-hundred day moving average price of $149.17.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting the consensus estimate of $1.95. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $1.78 earnings per share. Equities analysts predict that TE Connectivity Ltd. will post 8.13 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Vertical Research assumed coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price on the stock. Wells Fargo & Company lowered their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. Finally, Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $159.55.

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.