Thrivent Financial for Lutherans Has $6.44 Million Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Thrivent Financial for Lutherans reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,622 shares of the electronics maker’s stock after selling 2,146 shares during the period. Thrivent Financial for Lutherans’ holdings in TE Connectivity were worth $6,435,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. lifted its stake in TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after buying an additional 1,304,199 shares during the period. Point72 Asset Management L.P. raised its position in shares of TE Connectivity by 238.4% in the 2nd 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 boosted its stake in TE Connectivity by 43.0% during the 2nd quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock worth $174,955,000 after acquiring an additional 347,315 shares during the last quarter. Toronto Dominion Bank grew its holdings in TE Connectivity by 141.3% during the second quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock valued at $70,445,000 after purchasing an additional 274,206 shares during the period. Finally, Mizuho Securities USA LLC increased its stake in TE Connectivity by 982.6% in the third quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker’s stock valued at $38,602,000 after purchasing an additional 232,044 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Up 1.6 %

Shares of TEL stock opened at $152.26 on Friday. The firm’s fifty day moving average price is $148.96 and its two-hundred day moving average price is $149.52. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $45.55 billion, a P/E ratio of 14.83, a PEG ratio of 2.00 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its 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. 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 for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the business earned $1.78 earnings per share. TE Connectivity’s quarterly revenue was up .8% on a year-over-year basis. On average, equities 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 authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

TEL has been the subject of several research analyst reports. 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 downgraded TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a report on Thursday, October 31st. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group reduced their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. 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. According to data from MarketBeat, the company presently 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.