TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,907,367 shares of the electronics maker’s stock after selling 42,658 shares during the period. Janus Henderson Group PLC’s holdings in TE Connectivity were worth $439,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its stake in TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after buying an additional 128 shares during the last quarter. Olistico Wealth LLC bought a new position in shares of TE Connectivity during the second quarter worth about $30,000. Armstrong Advisory Group Inc. increased its holdings in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares during the period. Wolff Wiese Magana LLC lifted its position in TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares during the last quarter. Finally, Family Firm Inc. bought a new position in TE Connectivity in the 2nd quarter worth about $43,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TEL. Bank of America decreased their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company lowered their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, September 20th. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research note on Thursday, October 31st. Finally, StockNews.com started coverage on shares of TE Connectivity in a research note on Sunday, November 24th. They set a “buy” rating on the stock. One equities research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $159.55.

TE Connectivity Trading Up 2.1 %

Shares of NYSE TEL opened at $154.33 on Tuesday. The business has a fifty day simple moving average of $149.34 and a 200-day simple moving average of $149.70. The company has a market cap of $46.17 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 2.05 and a beta of 1.32. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate of $1.95. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company posted $1.78 earnings per share. Sell-side analysts predict that TE Connectivity Ltd. will post 8.14 EPS 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 buy up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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.