LGT Financial Advisors LLC Has $31,000 Stock Position in TE Connectivity Ltd. (NYSE:TEL)

LGT Financial Advisors LLC cut its position in TE Connectivity Ltd. (NYSE:TEL) by 52.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 205 shares of the electronics maker’s stock after selling 222 shares during the quarter. LGT Financial Advisors LLC’s holdings in TE Connectivity were worth $31,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TEL. Russell Investments Group Ltd. raised its stake in TE Connectivity by 25.3% in the first quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock valued at $41,811,000 after buying an additional 58,219 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in TE Connectivity by 17.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after purchasing an additional 52,824 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of TE Connectivity by 72.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock worth $46,537,000 after buying an additional 135,548 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of TE Connectivity during the 2nd quarter worth about $15,847,000. Finally, Headlands Technologies LLC grew its stake in TE Connectivity by 2,037.3% in the 1st quarter. Headlands Technologies LLC now owns 3,612 shares of the electronics maker’s stock valued at $525,000 after buying an additional 3,443 shares during the last quarter. 91.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird upped their price objective on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Thursday, October 31st. They issued a “buy” rating on the stock. 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 research note on Tuesday, October 1st. Truist Financial increased their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, 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 report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $159.55.

TE Connectivity Stock Performance

Shares of NYSE:TEL opened at $154.74 on Thursday. The company’s 50 day simple moving average is $147.90 and its 200 day simple moving average is $148.71. 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 Ltd. has a 1 year low of $123.79 and a 1 year high of $159.98. The stock has a market capitalization of $47.03 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same quarter last year, the company posted $1.78 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity announced that its board has authorized a share repurchase plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management 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.