Shayne & Jacobs LLC Has $1.73 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Shayne & Jacobs LLC lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,067 shares of the electronics maker’s stock after selling 1,120 shares during the period. Shayne & Jacobs LLC’s holdings in TE Connectivity were worth $1,725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Optas LLC increased its position in TE Connectivity by 4.2% in the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after buying an additional 71 shares during the last quarter. Ascent Wealth Partners LLC grew its stake in shares of TE Connectivity by 1.0% in the 4th quarter. Ascent Wealth Partners LLC now owns 8,610 shares of the electronics maker’s stock worth $1,231,000 after buying an additional 85 shares during the last quarter. Metis Global Partners LLC raised its position in TE Connectivity by 1.0% in the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock worth $1,475,000 after buying an additional 96 shares during the last quarter. Callan Capital LLC boosted its holdings in shares of TE Connectivity by 5.4% in the fourth quarter. Callan Capital LLC now owns 2,071 shares of the electronics maker’s stock worth $296,000 after buying an additional 106 shares during the last quarter. Finally, Insigneo Advisory Services LLC grew its stake in shares of TE Connectivity by 2.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock valued at $684,000 after acquiring an additional 108 shares during the period. Institutional investors own 91.43% of the company’s stock.

Insiders Place Their Bets

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wells Fargo & Company upped their price objective on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price objective for the company in a research report on Thursday, January 23rd. Bank of America increased their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird boosted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $167.00.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $151.98 on Wednesday. The firm has a 50 day simple moving average of $147.35 and a 200 day simple moving average of $148.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company has a market cap of $45.34 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The business’s revenue was up .1% on a year-over-year basis. Research analysts predict that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

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