TE Connectivity Ltd. (NYSE:TEL) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. trimmed its position in TE Connectivity Ltd. (NYSE:TEL) by 3.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,034 shares of the electronics maker’s stock after selling 100 shares during the quarter. First Horizon Advisors Inc.’s holdings in TE Connectivity were worth $458,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its stake in shares of TE Connectivity by 36.0% in the first quarter. Advisors Asset Management Inc. now owns 24,315 shares of the electronics maker’s stock valued at $3,532,000 after buying an additional 6,433 shares in the last quarter. 1832 Asset Management L.P. raised its position in TE Connectivity by 1.1% in the 1st quarter. 1832 Asset Management L.P. now owns 584,212 shares of the electronics maker’s stock valued at $84,851,000 after purchasing an additional 6,472 shares during the last quarter. LRI Investments LLC purchased a new position in shares of TE Connectivity during the first quarter worth about $72,000. Bank of Nova Scotia Trust Co. increased its stake in TE Connectivity by 0.4% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 68,926 shares of the electronics maker’s stock valued at $10,011,000 after buying an additional 286 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in TE Connectivity by 54.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after purchasing an additional 5,526,230 shares in the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Saturday, November 16th. They set a “buy” rating on the stock. HSBC cut shares of 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. Finally, Truist Financial raised their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity Stock Up 2.4 %

Shares of NYSE:TEL opened at $150.73 on Friday. The firm has a market cap of $45.09 billion, a P/E ratio of 14.68, a P/E/G ratio of 2.00 and a beta of 1.33. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $148.83 and its two-hundred day moving average price is $149.45. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98.

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

TE Connectivity declared that its board has approved a share repurchase program on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board 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.