Nisa Investment Advisors LLC Sells 1,588 Shares of TE Connectivity Ltd. (NYSE:TEL)

Nisa Investment Advisors LLC lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 91,772 shares of the electronics maker’s stock after selling 1,588 shares during the period. Nisa Investment Advisors LLC’s holdings in TE Connectivity were worth $13,121,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TEL. Ballentine Partners LLC grew its holdings in shares of TE Connectivity by 2.6% during the fourth quarter. Ballentine Partners LLC now owns 4,907 shares of the electronics maker’s stock worth $702,000 after buying an additional 125 shares in the last quarter. MassMutual Private Wealth & Trust FSB bought a new position in shares of TE Connectivity during the 4th quarter worth approximately $5,620,000. Bremer Bank National Association bought a new stake in shares of TE Connectivity in the fourth quarter worth $274,000. UMB Bank n.a. acquired a new position in TE Connectivity during the fourth quarter worth $148,000. Finally, Grove Bank & Trust acquired a new stake in TE Connectivity in the 4th quarter valued at $813,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TEL shares. Hsbc Global Res cut TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. Citigroup boosted their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company boosted their target price on shares of 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 lifted their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.00.

TE Connectivity Trading Up 1.1 %

Shares of NYSE:TEL opened at $156.73 on Friday. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98. The business has a 50 day moving average of $147.43 and a 200-day moving average of $148.80. 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 stock has a market cap of $46.78 billion, a PE ratio of 15.26, a P/E/G ratio of 2.02 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.06. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3,916,310.63 billion. During the same period in the prior year, the firm posted $1.84 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts forecast that TE Connectivity Ltd. will post 8.1 earnings per share for the current year.

TE Connectivity announced that its board has initiated a share 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership 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.