Ballentine Partners LLC Buys 125 Shares of TE Connectivity Ltd. (NYSE:TEL)

Ballentine Partners LLC boosted its stake in TE Connectivity Ltd. (NYSE:TEL) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,907 shares of the electronics maker’s stock after buying an additional 125 shares during the quarter. Ballentine Partners LLC’s holdings in TE Connectivity were worth $702,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its stake in shares of TE Connectivity by 26.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after purchasing an additional 1,304,199 shares in the last quarter. Nordea Investment Management AB bought a new position in TE Connectivity during the 4th quarter valued at about $149,211,000. Franklin Resources Inc. boosted its position in TE Connectivity by 31.1% in the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after buying an additional 712,228 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after buying an additional 694,917 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of TE Connectivity by 238.4% during the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after buying an additional 506,754 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on TEL shares. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target on the stock. in a research report on Thursday, October 31st. Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Citigroup upped their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company lowered their price objective on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating for the company in a research report on Monday, December 16th. Finally, The Goldman Sachs Group decreased their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $161.09.

TE Connectivity Stock Up 4.3 %

Shares of TE Connectivity stock opened at $154.72 on Thursday. The business has a fifty day simple moving average of $147.43 and a 200 day simple moving average of $148.76. The stock has a market cap of $46.18 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 1.99 and a beta of 1.32. 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 Ltd. has a 12 month low of $133.57 and a 12 month high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The company had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3,916,310.63 billion. During the same period in the prior year, the business posted $1.84 EPS. TE Connectivity’s revenue was up .1% on a year-over-year basis. Research analysts predict that TE Connectivity Ltd. will post 8.1 EPS for the current year.

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