TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 433,344 shares of the electronics maker’s stock after selling 658 shares during the quarter. Stifel Financial Corp owned approximately 0.14% of TE Connectivity worth $65,433,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Simplicity Wealth LLC raised its stake in shares of TE Connectivity by 2.7% in the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after purchasing an additional 67 shares in the last quarter. Optas LLC lifted its holdings in TE Connectivity by 4.2% during the 3rd 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. Gradient Investments LLC grew its position in shares of TE Connectivity by 2.2% in the 2nd quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker’s stock worth $542,000 after acquiring an additional 76 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of TE Connectivity by 3.4% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 2,297 shares of the electronics maker’s stock valued at $346,000 after acquiring an additional 76 shares during the last quarter. Finally, OLD National Bancorp IN raised its position in shares of TE Connectivity by 3.6% during the 3rd quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock valued at $374,000 after acquiring an additional 85 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $152.44 on Friday. The firm’s 50-day simple moving average is $149.72 and its 200 day simple moving average is $149.78. The stock has a market cap of $45.60 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.08 and a beta of 1.32. 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 Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting 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 during the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the business posted $1.78 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity announced that its board has approved a share buyback program on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on TEL shares. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a research note on Thursday, October 31st. The Goldman Sachs Group decreased their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Finally, Hsbc Global Res cut 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 assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, TE Connectivity has a consensus rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Company 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.