TE Connectivity Ltd. (NYSE:TEL) Holdings Trimmed by Atria Investments Inc

Atria Investments Inc trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL) by 35.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,789 shares of the electronics maker’s stock after selling 4,875 shares during the quarter. Atria Investments Inc’s holdings in TE Connectivity were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TEL. Simplicity Wealth LLC lifted its stake in TE Connectivity by 2.7% during the second 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 during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after acquiring an additional 68 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of TE Connectivity by 3.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after acquiring an additional 69 shares during the last quarter. Optas LLC lifted its holdings in shares of TE Connectivity by 4.2% during the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after purchasing an additional 71 shares during the last quarter. Finally, Gradient Investments LLC lifted its holdings in shares of TE Connectivity by 2.2% during the second quarter. Gradient Investments LLC now owns 3,602 shares of the electronics maker’s stock valued at $542,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. HSBC downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a report on Thursday, October 31st. Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company decreased their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Finally, Bank of America decreased their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. One research 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 data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $148.35 on Friday. The business has a fifty day simple moving average of $148.50 and a 200 day simple moving average of $149.24. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The firm has a market cap of $44.38 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 2.10 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 EPS. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a stock buyback 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 reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is 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.