TE Connectivity Ltd. (NYSE:TEL) Holdings Decreased by Groupama Asset Managment

Groupama Asset Managment lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 70.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,834 shares of the electronics maker’s stock after selling 8,985 shares during the quarter. Groupama Asset Managment’s holdings in TE Connectivity were worth $579,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position in shares of TE Connectivity by 26.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after buying an additional 1,304,199 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after acquiring an additional 694,917 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in TE Connectivity by 238.4% in the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after acquiring an additional 506,754 shares during the period. Bank of Montreal Can grew its holdings in shares of TE Connectivity by 43.0% during the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after purchasing an additional 347,315 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of TE Connectivity by 141.3% during the 2nd quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock worth $70,445,000 after purchasing an additional 274,206 shares during the period. Institutional investors own 91.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TEL. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research report on Thursday, October 31st. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Bank of America cut their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Finally, StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Stock Performance

TEL opened at $151.44 on Tuesday. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98. The company has a market capitalization of $45.30 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 2.07 and a beta of 1.32. The business has a 50 day moving average price of $149.76 and a two-hundred day moving average price of $149.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data 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 return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Research analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity announced that its board has approved a stock repurchase plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors 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.