Concurrent Investment Advisors LLC Decreases Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Concurrent Investment Advisors LLC decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,853 shares of the electronics maker’s stock after selling 103 shares during the period. Concurrent Investment Advisors LLC’s holdings in TE Connectivity were worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TEL. Pinnacle Bancorp Inc. purchased a new stake in shares of TE Connectivity during the 4th quarter valued at about $26,000. Golden State Wealth Management LLC bought a new stake in TE Connectivity during the fourth quarter worth approximately $44,000. Hilltop National Bank purchased a new stake in TE Connectivity during the fourth quarter valued at approximately $55,000. Webster Bank N. A. bought a new stake in shares of TE Connectivity in the 4th quarter valued at approximately $61,000. Finally, Vestor Capital LLC purchased a new position in shares of TE Connectivity in the 3rd quarter worth approximately $66,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on TEL shares. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 19th. Wells Fargo & Company lifted their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Robert W. Baird upped their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Bank of America raised their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Finally, HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Insider Activity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

TE Connectivity Trading Down 0.8 %

NYSE TEL opened at $151.98 on Wednesday. The firm has a market cap of $45.34 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average price of $147.35 and a 200 day moving average price of $148.61.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the business posted $1.84 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, sell-side analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a stock buyback program on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are 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.