MetLife Investment Management LLC Trims Stock Position in TE Connectivity Ltd. (NYSE:TEL)

MetLife Investment Management LLC decreased its stake in TE Connectivity Ltd. (NYSE:TEL) by 3.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,699 shares of the electronics maker’s stock after selling 2,492 shares during the quarter. MetLife Investment Management LLC’s holdings in TE Connectivity were worth $10,465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in TE Connectivity by 141.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 255,800 shares of the electronics maker’s stock valued at $38,623,000 after acquiring an additional 150,000 shares during the period. Glenmede Trust Co. NA lifted its stake in shares of TE Connectivity by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker’s stock valued at $29,322,000 after purchasing an additional 23,755 shares during the period. Bridgewater Associates LP boosted its holdings in TE Connectivity by 76.4% during the third quarter. Bridgewater Associates LP now owns 88,604 shares of the electronics maker’s stock worth $13,378,000 after buying an additional 38,378 shares in the last quarter. Cadence Bank acquired a new stake in TE Connectivity during the third quarter valued at $204,000. Finally, Transamerica Financial Advisors Inc. increased its holdings in TE Connectivity by 34.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,329 shares of the electronics maker’s stock valued at $201,000 after buying an additional 341 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Up 0.9 %

Shares of NYSE TEL opened at $151.15 on Friday. The stock has a market cap of $45.22 billion, a PE ratio of 14.72, a P/E/G ratio of 2.05 and a beta of 1.33. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98. The company has a 50-day moving average of $149.28 and a 200 day moving average of $149.69.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the business earned $1.78 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

TEL has been the topic of a number of analyst reports. Bank of America dropped their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. The Goldman Sachs Group decreased their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Sunday, November 24th. They issued a “buy” rating on the stock. Finally, Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, TE Connectivity has a consensus 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.