LGT Financial Advisors LLC Sells 222 Shares of TE Connectivity Ltd. (NYSE:TEL)

LGT Financial Advisors LLC decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 52.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 205 shares of the electronics maker’s stock after selling 222 shares during the quarter. LGT Financial Advisors LLC’s holdings in TE Connectivity were worth $31,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TEL. Norden Group LLC acquired a new position in shares of TE Connectivity in the first quarter valued at approximately $575,000. Manchester Capital Management LLC increased its position in TE Connectivity by 5.4% in the 1st quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock valued at $207,000 after acquiring an additional 73 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of TE Connectivity by 4.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 40,297 shares of the electronics maker’s stock valued at $5,853,000 after acquiring an additional 1,721 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of TE Connectivity by 340.9% during the first quarter. Quantbot Technologies LP now owns 44,087 shares of the electronics maker’s stock worth $6,403,000 after purchasing an additional 34,087 shares during the period. Finally, Sciencast Management LP lifted its holdings in shares of TE Connectivity by 22.3% during the first quarter. Sciencast Management LP now owns 13,322 shares of the electronics maker’s stock worth $1,935,000 after purchasing an additional 2,430 shares during the period. Institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on TEL shares. Bank of America lowered their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Robert W. Baird raised their price objective on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. StockNews.com assumed coverage on shares of TE Connectivity in a research report on Thursday, October 31st. They set a “buy” rating for the company. Finally, Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Trading Up 3.8 %

NYSE:TEL opened at $154.74 on Thursday. 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 has a fifty day simple moving average of $147.90 and a two-hundred day simple moving average of $148.71. The stock has a market capitalization of $47.03 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 2.04 and a beta of 1.33. TE Connectivity Ltd. has a 12 month low of $123.79 and a 12 month high of $159.98.

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

TE Connectivity declared that its board has approved a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are 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.