Mutual of America Capital Management LLC Sells 1,397 Shares of TE Connectivity Ltd. (NYSE:TEL)

Mutual of America Capital Management LLC lessened its holdings in TE Connectivity Ltd. (NYSE:TELFree Report) by 3.1% during the third quarter, HoldingsChannel.com reports. The firm owned 43,942 shares of the electronics maker’s stock after selling 1,397 shares during the period. Mutual of America Capital Management LLC’s holdings in TE Connectivity were worth $5,428,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in TE Connectivity by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 27,621,186 shares of the electronics maker’s stock worth $3,617,824,000 after buying an additional 308,580 shares in the last quarter. BlackRock Inc. raised its holdings in TE Connectivity by 1.9% during the second quarter. BlackRock Inc. now owns 20,503,219 shares of the electronics maker’s stock worth $2,873,731,000 after acquiring an additional 376,519 shares in the last quarter. State Street Corp boosted its position in TE Connectivity by 19.5% during the first quarter. State Street Corp now owns 14,149,636 shares of the electronics maker’s stock valued at $1,851,648,000 after purchasing an additional 2,309,835 shares during the last quarter. Geode Capital Management LLC grew its stake in TE Connectivity by 1.7% in the second quarter. Geode Capital Management LLC now owns 5,424,846 shares of the electronics maker’s stock valued at $757,938,000 after purchasing an additional 92,293 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of TE Connectivity during the 4th quarter worth approximately $584,131,000. Institutional investors and hedge funds own 90.75% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TEL. StockNews.com raised TE Connectivity from a “buy” rating to a “strong-buy” rating in a report on Saturday. Citigroup initiated coverage on shares of TE Connectivity in a research report on Friday, January 5th. They issued a “neutral” rating and a $146.00 price objective for the company. Robert W. Baird upped their target price on shares of TE Connectivity from $147.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Stifel Nicolaus boosted their price target on TE Connectivity from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company began coverage on TE Connectivity in a research note on Friday, December 15th. They issued an “equal weight” rating and a $144.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.67.

Get Our Latest Stock Report on TE Connectivity

Insider Activity

In related news, insider Steven T. Merkt sold 99,777 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $144.00, for a total value of $14,367,888.00. Following the completion of the transaction, the insider now owns 30,459 shares of the company’s stock, valued at approximately $4,386,096. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

TE Connectivity Stock Up 0.7 %

Shares of TEL opened at $144.05 on Monday. The firm has a 50 day simple moving average of $137.76 and a two-hundred day simple moving average of $131.39. The company has a market cap of $44.77 billion, a P/E ratio of 13.67, a P/E/G ratio of 2.06 and a beta of 1.41. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $146.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.86 and a quick ratio of 1.16.

TE Connectivity (NYSE:TELGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. TE Connectivity had a return on equity of 18.93% and a net margin of 20.69%. The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the prior year, the company earned $1.53 EPS. TE Connectivity’s revenue for the quarter was down .3% on a year-over-year basis. Research analysts forecast that TE Connectivity Ltd. will post 7.55 EPS for the current fiscal year.

TE Connectivity announced that its board has authorized a stock buyback plan on Tuesday, December 12th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

About TE Connectivity

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TELFree Report).

Institutional Ownership by Quarter for TE Connectivity (NYSE:TEL)

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