BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 10,081 Shares of TE Connectivity Ltd. (NYSE:TEL)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 240,672 shares of the electronics maker’s stock after selling 10,081 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.08% of TE Connectivity worth $36,339,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TEL. Versant Capital Management Inc boosted its holdings in shares of TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 128 shares during the last quarter. Olistico Wealth LLC bought a new stake in TE Connectivity during the second quarter valued at approximately $30,000. Armstrong Advisory Group Inc. grew its position in TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after buying an additional 150 shares during the period. Bank & Trust Co bought a new stake in TE Connectivity during the second quarter valued at approximately $35,000. Finally, Wolff Wiese Magana LLC grew its position in TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after buying an additional 245 shares during the period. 91.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on TEL shares. The Goldman Sachs Group cut their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. StockNews.com started coverage on shares of TE Connectivity in a research report on Sunday, November 24th. They set a “buy” rating for the company. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research report on Thursday, October 31st. Finally, Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, TE Connectivity has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $151.12 on Friday. The firm has a market capitalization of $45.21 billion, a P/E ratio of 14.71, a PEG ratio of 2.05 and a beta of 1.33. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $149.34 and a 200 day moving average price of $149.71. TE Connectivity Ltd. has a 52 week low of $128.52 and a 52 week high of $159.98.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting the consensus estimate of $1.95. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. TE Connectivity’s revenue was up .8% on a year-over-year basis. During the same period last year, the firm posted $1.78 EPS. Sell-side analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current year.

TE Connectivity declared that its Board of Directors has approved a stock buyback plan on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is 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.