Robeco Institutional Asset Management B.V. Trims Stake in TE Connectivity Ltd. (NYSE:TEL)

Robeco Institutional Asset Management B.V. reduced its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 138,998 shares of the electronics maker’s stock after selling 9,552 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in TE Connectivity were worth $19,873,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp increased its holdings in TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after buying an additional 268,837 shares during the last quarter. Geode Capital Management LLC increased its holdings in TE Connectivity by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after buying an additional 75,658 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings 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 valued at $508,481,000 after buying an additional 694,917 shares during the last quarter. Franklin Resources Inc. increased its holdings in TE Connectivity by 31.1% during 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of TE Connectivity by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,762,099 shares of the electronics maker’s stock worth $266,059,000 after purchasing an additional 9,864 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the sale, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This trade represents a 13.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TEL. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Citigroup raised their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. Finally, Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

TE Connectivity Price Performance

TE Connectivity stock opened at $148.05 on Friday. The firm has a 50-day moving average price of $147.66 and a 200-day moving average price of $148.76. The firm has a market capitalization of $44.17 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $1.84 EPS. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 7.96 EPS for the current year.

TE Connectivity announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors 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.