Gradient Investments LLC Has $492,000 Holdings in TE Connectivity Ltd. (NYSE:TEL)

Gradient Investments LLC decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,438 shares of the electronics maker’s stock after selling 82 shares during the period. Gradient Investments LLC’s holdings in TE Connectivity were worth $492,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TEL. Public Sector Pension Investment Board lifted its position in shares of TE Connectivity by 62.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 11,476 shares of the electronics maker’s stock worth $1,726,000 after purchasing an additional 4,415 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of TE Connectivity by 71.3% during the second quarter. AQR Capital Management LLC now owns 431,626 shares of the electronics maker’s stock worth $64,860,000 after buying an additional 179,594 shares during the last quarter. APG Asset Management N.V. boosted its position in shares of TE Connectivity by 76.5% in the second quarter. APG Asset Management N.V. now owns 321,832 shares of the electronics maker’s stock valued at $45,172,000 after acquiring an additional 139,520 shares during the period. Dark Forest Capital Management LP acquired a new stake in shares of TE Connectivity in the second quarter worth $275,000. Finally, MBB Public Markets I LLC bought a new position in TE Connectivity during the second quarter worth $3,446,000. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Down 1.5 %

Shares of NYSE TEL opened at $154.64 on Friday. The business has a fifty day moving average of $147.62 and a two-hundred day moving average of $148.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.08 and a current ratio of 1.68. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week high of $159.98. The stock has a market cap of $46.16 billion, a PE ratio of 24.70, a PEG ratio of 2.12 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3,916,310.63 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted $1.84 EPS. As a group, equities research analysts expect that TE Connectivity Ltd. will post 8.1 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows 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 board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have issued reports on TEL. Robert W. Baird raised their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup lifted their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group lowered their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Finally, Bank of America upped their target price on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $167.00.

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.