TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC cut its holdings in TE Connectivity Ltd. (NYSE:TEL) by 1.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,907,367 shares of the electronics maker’s stock after selling 42,658 shares during the quarter. Janus Henderson Group PLC’s holdings in TE Connectivity were worth $439,027,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised 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 purchasing an additional 1,304,199 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of TE Connectivity by 238.4% during the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after purchasing an additional 506,754 shares during the last quarter. Bank of Montreal Can lifted its position in TE Connectivity by 43.0% during the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after purchasing an additional 347,315 shares during the period. Toronto Dominion Bank boosted its holdings in TE Connectivity by 141.3% in the second quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock valued at $70,445,000 after purchasing an additional 274,206 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its stake in shares of TE Connectivity by 982.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker’s stock valued at $38,602,000 after buying an additional 232,044 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TEL shares. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. StockNews.com started coverage on shares of TE Connectivity in a research note on Sunday, November 24th. They issued a “buy” rating for the company. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Bank of America lowered their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Stock Performance

TEL opened at $154.33 on Tuesday. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The firm has a market capitalization of $46.17 billion, a PE ratio of 15.03, a PEG ratio of 2.05 and a beta of 1.32. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $149.34 and its 200 day moving average price is $149.70.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the business earned $1.78 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity announced that its Board of Directors has initiated a share buyback plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.