Everence Capital Management Inc. Decreases Position in TE Connectivity Ltd. (NYSE:TEL)

Everence Capital Management Inc. decreased its stake in TE Connectivity Ltd. (NYSE:TEL) by 25.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,800 shares of the electronics maker’s stock after selling 3,690 shares during the period. Everence Capital Management Inc.’s holdings in TE Connectivity were worth $1,544,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Armstrong Advisory Group Inc. boosted its stake in TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after buying an additional 150 shares during the period. Wolff Wiese Magana LLC boosted its stake in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares during the period. Isthmus Partners LLC bought a new position in TE Connectivity during the 2nd quarter valued at about $45,000. MCF Advisors LLC raised its position in TE Connectivity by 2,745.5% in the 2nd quarter. MCF Advisors LLC now owns 313 shares of the electronics maker’s stock worth $47,000 after purchasing an additional 302 shares during the period. Finally, Vestor Capital LLC purchased a new position in shares of TE Connectivity during the third quarter valued at approximately $66,000. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TEL. The Goldman Sachs Group reduced their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. 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. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company reduced their target price on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $159.36.

TE Connectivity Trading Up 1.3 %

TEL opened at $142.40 on Friday. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. The stock has a fifty day moving average price of $149.53 and a 200-day moving average price of $149.32. The firm has a market cap of $42.60 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.04 and a beta of 1.32. 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 (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities research analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

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

TE Connectivity 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.