Crossmark Global Holdings Inc. Sells 1,196 Shares of TE Connectivity Ltd. (NYSE:TEL)

Crossmark Global Holdings Inc. lessened its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,927 shares of the electronics maker’s stock after selling 1,196 shares during the period. Crossmark Global Holdings Inc.’s holdings in TE Connectivity were worth $11,571,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its stake in shares of TE Connectivity by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after purchasing an additional 9,670 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in TE Connectivity by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after purchasing an additional 23,755 shares during the period. Venturi Wealth Management LLC boosted its position in shares of TE Connectivity by 1,632.0% during the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock worth $989,000 after purchasing an additional 6,169 shares in the last quarter. Waverton Investment Management Ltd grew 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, Oppenheimer Asset Management Inc. increased its position in shares of TE Connectivity by 21.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock valued at $10,471,000 after buying an additional 12,140 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $146.29 on Tuesday. The stock has a market cap of $43.76 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.98 and a beta of 1.32. TE Connectivity Ltd. has a twelve month low of $128.91 and a twelve month high of $159.98. The company’s fifty day moving average is $147.70 and its 200 day moving average is $148.78. 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 (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the firm posted $1.78 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.14 EPS for the current year.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TEL. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research note on Thursday, October 31st. Wells Fargo & Company cut their price target on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. The Goldman Sachs Group reduced their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.70.

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.