UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in TE Connectivity Ltd. (NYSE:TEL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in TE Connectivity Ltd. (NYSE:TEL) by 12.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,974,230 shares of the electronics maker’s stock after selling 279,848 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.65% of TE Connectivity worth $298,089,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC purchased a new position in TE Connectivity in the 2nd quarter valued at approximately $15,847,000. Venturi Wealth Management LLC increased its position in shares of TE Connectivity by 1,632.0% in the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after buying an additional 6,169 shares in the last quarter. Marshall Financial Group LLC acquired a new position in shares of TE Connectivity during the 2nd quarter worth $995,000. Oppenheimer Asset Management Inc. boosted its position in shares of TE Connectivity by 21.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock worth $10,471,000 after buying an additional 12,140 shares in the last quarter. Finally, Waverton Investment Management Ltd grew its stake in TE Connectivity by 8.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after acquiring an additional 106,688 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Down 0.0 %

Shares of TEL opened at $151.12 on Friday. The firm has a market cap of $45.21 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 2.05 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 fifty day moving average is $149.34 and its two-hundred day moving average is $149.71. 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 posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion during 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 quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 earnings per share. Analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

TE Connectivity declared that its Board of Directors has authorized a share repurchase plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding 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 usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TEL has been the topic of several research reports. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. StockNews.com started coverage on TE Connectivity in a research report on Sunday, November 24th. They set a “buy” rating for the company. The Goldman Sachs Group cut their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Finally, Bank of America cut their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.