Summit Trail Advisors LLC Cuts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Summit Trail Advisors LLC decreased its holdings in TE Connectivity Ltd. (NYSE:TEL) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,134 shares of the electronics maker’s stock after selling 270 shares during the quarter. Summit Trail Advisors LLC’s holdings in TE Connectivity were worth $591,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Optas LLC lifted its holdings in TE Connectivity by 4.2% during the 3rd quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock worth $268,000 after buying an additional 71 shares in the last quarter. OLD National Bancorp IN raised its stake in shares of TE Connectivity by 3.6% in the third quarter. OLD National Bancorp IN now owns 2,478 shares of the electronics maker’s stock valued at $374,000 after acquiring an additional 85 shares in the last quarter. Metis Global Partners LLC boosted its holdings in TE Connectivity by 1.0% in the third quarter. Metis Global Partners LLC now owns 9,771 shares of the electronics maker’s stock valued at $1,475,000 after purchasing an additional 96 shares during the period. Insigneo Advisory Services LLC grew its stake in TE Connectivity by 2.4% during the 3rd quarter. Insigneo Advisory Services LLC now owns 4,530 shares of the electronics maker’s stock worth $684,000 after purchasing an additional 108 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in TE Connectivity by 6.4% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,956 shares of the electronics maker’s stock worth $295,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction 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 sale, the insider now owns 25,976 shares in the company, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TEL shares. Bank of America lifted their price objective on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Citigroup lifted their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Robert W. Baird increased their price objective on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, HSBC raised TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $167.00.

TE Connectivity Price Performance

Shares of TEL opened at $148.82 on Wednesday. The firm has a fifty day moving average price of $146.96 and a 200 day moving average price of $148.26. The stock has a market cap of $44.40 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

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, beating the consensus estimate of $1.89 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $1.84 EPS. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 7.95 EPS for the current year.

TE Connectivity announced that its Board of Directors has approved a share repurchase plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the electronics maker to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board 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.