TE Connectivity Ltd. (NYSE:TEL) Position Lessened by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,200 shares of the electronics maker’s stock after selling 143 shares during the period. SeaCrest Wealth Management LLC’s holdings in TE Connectivity were worth $457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Optas LLC increased its position in shares of TE Connectivity by 4.2% during the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after purchasing an additional 71 shares during the period. OLD National Bancorp IN lifted 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 purchasing an additional 85 shares in the last quarter. Metis Global Partners LLC grew its stake in TE Connectivity by 1.0% in the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after purchasing an additional 96 shares in the last quarter. Insigneo Advisory Services LLC increased its holdings in 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 during the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of TE Connectivity by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock valued at $295,000 after purchasing an additional 117 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TEL. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group decreased their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company dropped their target price on TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a report on Monday, December 16th. Bank of America dropped their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $160.70.

TE Connectivity Stock Up 0.1 %

NYSE:TEL opened at $143.64 on Friday. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The stock has a 50-day moving average price of $148.11 and a two-hundred day moving average price of $148.84. The stock has a market cap of $42.97 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.91 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.

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

TE Connectivity declared that its Board of Directors has approved a stock buyback program on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

About TE Connectivity

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.