TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 10.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,122 shares of the electronics maker’s stock after selling 586 shares during the period. Cornercap Investment Counsel Inc.’s holdings in TE Connectivity were worth $773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in TE Connectivity by 54.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after buying an additional 5,526,230 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after acquiring an additional 1,304,199 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in TE Connectivity by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,118,636 shares of the electronics maker’s stock valued at $469,113,000 after purchasing an additional 223,842 shares during the last quarter. Cooke & Bieler LP grew its stake in TE Connectivity by 3.3% during the 2nd quarter. Cooke & Bieler LP now owns 1,753,850 shares of the electronics maker’s stock valued at $263,832,000 after purchasing an additional 55,777 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in TE Connectivity by 13.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,434,642 shares of the electronics maker’s stock worth $215,813,000 after purchasing an additional 166,339 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEL has been the subject of several research analyst reports. StockNews.com began coverage on TE Connectivity in a research note on Saturday. They set a “buy” rating for the company. Bank of America decreased their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. The Goldman Sachs Group dropped 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. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. Finally, HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Stock Down 3.2 %

Shares of TE Connectivity stock opened at $148.35 on Friday. The stock has a market capitalization of $44.38 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 2.10 and a beta of 1.33. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The business’s 50 day simple moving average is $148.40 and its 200-day simple moving average is $149.20.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.95. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 EPS. Equities research analysts forecast that TE Connectivity Ltd. will post 8.13 earnings per share for the current year.

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

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.