Nuance Investments LLC Has $16.48 Million Stake in TE Connectivity Ltd. (NYSE:TEL)

Nuance Investments LLC cut its stake in TE Connectivity Ltd. (NYSE:TEL) by 16.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,940 shares of the electronics maker’s stock after selling 21,516 shares during the quarter. Nuance Investments LLC’s holdings in TE Connectivity were worth $16,483,000 as of its most recent filing with the Securities & Exchange Commission.

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

TE Connectivity Stock Performance

NYSE:TEL opened at $146.95 on Wednesday. TE Connectivity Ltd. has a 52-week low of $128.52 and a 52-week high of $159.98. The business’s fifty day moving average is $148.63 and its 200 day moving average is $149.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The firm has a market cap of $43.96 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 2.02 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 earnings per share. Research analysts predict that TE Connectivity Ltd. will post 8.13 EPS for the current year.

TE Connectivity announced that its board has initiated a stock buyback plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

TE Connectivity Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 25th will be given a dividend of $0.65 per share. The ex-dividend date is Friday, November 22nd. This represents a dividend yield of 1.75%. TE Connectivity’s dividend payout ratio (DPR) is currently 25.32%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Robert W. Baird raised their target price on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Hsbc Global Res lowered shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price for the company. in a research report on Thursday, October 31st. StockNews.com initiated coverage on shares of TE Connectivity in a report on Saturday. They issued a “buy” rating on the stock. Finally, Bank of America decreased their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $159.55.

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.