Asset Management One Co. Ltd. Reduces Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Asset Management One Co. Ltd. lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 16.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,819 shares of the electronics maker’s stock after selling 23,203 shares during the quarter. Asset Management One Co. Ltd.’s holdings in TE Connectivity were worth $17,661,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its holdings in shares of TE Connectivity by 4.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after purchasing an additional 9,670 shares during the period. Glenmede Trust Co. NA grew its holdings in shares of TE Connectivity by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after purchasing an additional 23,755 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of TE Connectivity by 1,632.0% in the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after purchasing an additional 6,169 shares during the period. Waverton Investment Management Ltd lifted its position in TE Connectivity by 8.2% in the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after buying an additional 106,688 shares during the last quarter. Finally, Meyer Handelman Co. lifted its position in TE Connectivity by 9.9% in the fourth quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker’s stock valued at $14,531,000 after buying an additional 9,175 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 0.2 %

Shares of NYSE:TEL opened at $152.87 on Friday. The firm’s 50 day moving average price is $146.79 and its 200 day moving average price is $148.21. The stock has a market cap of $45.61 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. TE Connectivity Ltd. has a fifty-two week low of $137.61 and a fifty-two 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.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 earnings per share. As a group, equities research analysts predict that TE Connectivity Ltd. will post 7.95 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

TEL has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a research report on Thursday, January 23rd. Finally, Bank of America increased their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $167.00.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is owned by corporate insiders.

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.