Flagship Harbor Advisors LLC Sells 211 Shares of TE Connectivity Ltd (TEL)

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Flagship Harbor Advisors LLC cut its holdings in shares of TE Connectivity Ltd (NYSE:TEL) by 20.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 801 shares of the electronics maker’s stock after selling 211 shares during the period. Flagship Harbor Advisors LLC’s holdings in TE Connectivity were worth $60,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Private Capital Group LLC grew its position in shares of TE Connectivity by 115.2% during the fourth quarter. Private Capital Group LLC now owns 1,104 shares of the electronics maker’s stock worth $83,000 after buying an additional 591 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of TE Connectivity by 5.2% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,742 shares of the electronics maker’s stock worth $360,000 after buying an additional 236 shares in the last quarter. Pflug Koory LLC grew its position in shares of TE Connectivity by 100.0% during the fourth quarter. Pflug Koory LLC now owns 850 shares of the electronics maker’s stock worth $69,000 after buying an additional 425 shares in the last quarter. Calamos Advisors LLC grew its position in shares of TE Connectivity by 17.6% during the fourth quarter. Calamos Advisors LLC now owns 59,346 shares of the electronics maker’s stock worth $4,488,000 after buying an additional 8,886 shares in the last quarter. Finally, James Investment Research Inc. grew its position in shares of TE Connectivity by 266.3% during the fourth quarter. James Investment Research Inc. now owns 75,140 shares of the electronics maker’s stock worth $5,683,000 after buying an additional 54,629 shares in the last quarter. Institutional investors own 92.58% of the company’s stock.

Shares of TEL opened at $81.37 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.55 and a quick ratio of 0.98. The company has a market capitalization of $27.57 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. TE Connectivity Ltd has a 52-week low of $69.84 and a 52-week high of $106.00.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 23rd. The electronics maker reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.01. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.38 billion. TE Connectivity had a return on equity of 19.22% and a net margin of 20.06%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.40 earnings per share. On average, sell-side analysts predict that TE Connectivity Ltd will post 5.45 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a share buyback plan on Friday, December 14th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the electronics maker to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

A number of brokerages have recently commented on TEL. Zacks Investment Research raised TE Connectivity from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Royal Bank of Canada reissued a “buy” rating and set a $92.00 price objective on shares of TE Connectivity in a research report on Sunday, January 6th. Robert W. Baird reissued a “hold” rating and set a $79.00 price objective on shares of TE Connectivity in a research report on Sunday, January 6th. ValuEngine raised TE Connectivity from a “sell” rating to a “hold” rating in a research report on Tuesday, December 18th. Finally, Jefferies Financial Group began coverage on TE Connectivity in a research report on Tuesday, December 4th. They set a “hold” rating and a $84.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $97.78.

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About TE Connectivity

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensors solutions in Europe, the Middle East, Africa, the Asia–Pacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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

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