JPMorgan Chase & Co. Has $203.42 Million Stock Position in TE Connectivity Ltd. (NYSE:TEL)

JPMorgan Chase & Co. lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 26.5% during the third quarter, HoldingsChannel reports. The firm owned 1,347,247 shares of the electronics maker’s stock after selling 486,831 shares during the quarter. JPMorgan Chase & Co.’s holdings in TE Connectivity were worth $203,421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TEL. Optas LLC grew its position in TE Connectivity by 4.2% in the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after acquiring an additional 71 shares during the last quarter. OLD National Bancorp IN grew its holdings 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 purchasing an additional 85 shares during the last quarter. Metis Global Partners LLC increased its position in TE Connectivity by 1.0% during the 3rd quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock worth $1,475,000 after purchasing an additional 96 shares in the last quarter. Insigneo Advisory Services LLC lifted its stake in TE Connectivity by 2.4% in the 3rd quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock valued at $684,000 after purchasing an additional 108 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its position in TE Connectivity by 3.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 3,501 shares of the electronics maker’s stock valued at $527,000 after buying an additional 111 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 1.5 %

Shares of TE Connectivity stock opened at $142.87 on Tuesday. The stock’s 50-day moving average is $149.78 and its 200 day moving average is $149.46. TE Connectivity Ltd. has a one year low of $128.52 and a one year high of $159.98. The firm has a market cap of $42.74 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 2.04 and a beta of 1.32. 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 posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.78 EPS. Equities research analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current year.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on TEL. HSBC downgraded shares of 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. StockNews.com upgraded TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group dropped their price objective 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. Bank of America reduced their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $159.36.

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.