Avior Wealth Management LLC Cuts Holdings in TE Connectivity Ltd. (NYSE:TEL)

Avior Wealth Management LLC trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,891 shares of the electronics maker’s stock after selling 459 shares during the quarter. Avior Wealth Management LLC’s holdings in TE Connectivity were worth $985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its holdings in shares of TE Connectivity by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 243,274 shares of the electronics maker’s stock valued at $36,732,000 after buying an additional 9,670 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after buying an additional 23,755 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of TE Connectivity by 1,632.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after buying an additional 6,169 shares during the period. Waverton Investment Management Ltd lifted its holdings in shares of TE Connectivity by 8.2% during the 3rd 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 period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of TE Connectivity by 21.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock valued at $10,471,000 after buying an additional 12,140 shares during the period. 91.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TEL has been the topic of several research analyst reports. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a report on Thursday. Hsbc Global Res raised TE Connectivity from a “moderate sell” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company raised their target price on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Bank of America raised their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, TE Connectivity presently has an average rating of “Moderate Buy” and an average target price of $165.00.

TE Connectivity Trading Down 1.5 %

Shares of TEL stock opened at $154.64 on Friday. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.68. The firm has a market capitalization of $46.16 billion, a PE ratio of 24.70, a PEG ratio of 2.12 and a beta of 1.32. The stock has a fifty day simple moving average of $147.49 and a two-hundred day simple moving average of $148.86.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3,916,310.63 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 earnings per share. On average, analysts predict that TE Connectivity Ltd. will post 8.1 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are usually an indication 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.