Newman Dignan & Sheerar Inc. Has $200,000 Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Newman Dignan & Sheerar Inc. trimmed its stake in TE Connectivity Ltd. (NYSE:TEL) by 10.5% in the fourth quarter, HoldingsChannel reports. The firm owned 1,400 shares of the electronics maker’s stock after selling 165 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in TE Connectivity were worth $200,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TEL. Nordea Investment Management AB bought a new position in shares of TE Connectivity during the fourth quarter valued at about $149,211,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of TE Connectivity by 2,330.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 753,572 shares of the electronics maker’s stock valued at $107,738,000 after purchasing an additional 722,565 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of 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 purchasing an additional 712,228 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in shares of 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 purchasing an additional 694,917 shares in the last quarter. Finally, State Street Corp lifted its position in shares of 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 purchasing an additional 268,837 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TEL. Wells Fargo & Company raised their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” 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 price objective on the stock in a research report on Thursday, January 23rd. Bank of America lifted their price objective 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. Robert W. Baird lifted their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Finally, StockNews.com lowered shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 11th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $167.00.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.

TE Connectivity Price Performance

TEL opened at $152.87 on Friday. The company has a market capitalization of $45.61 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.01 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $146.79 and a 200-day moving average price of $148.21. TE Connectivity Ltd. has a twelve month low of $137.61 and a twelve month high of $159.98.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share 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 the consensus estimate of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $1.84 earnings per share. Equities analysts expect that TE Connectivity Ltd. will post 7.95 EPS for the current year.

TE Connectivity declared that its Board of Directors has approved a stock repurchase 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are 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.