Brookstone Capital Management Sells 579 Shares of TE Connectivity Ltd. (NYSE:TEL)

Brookstone Capital Management trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL) by 23.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,871 shares of the electronics maker’s stock after selling 579 shares during the period. Brookstone Capital Management’s holdings in TE Connectivity were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in TEL. State Street Corp lifted its position in shares of TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after purchasing an additional 268,837 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of TE Connectivity by 26.2% during the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after purchasing an additional 1,304,199 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of TE Connectivity by 1.3% during the third quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after purchasing an additional 75,658 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in shares of TE Connectivity by 26.0% during the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after purchasing an additional 694,917 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Stock Performance

NYSE TEL opened at $146.29 on Friday. The company’s 50 day moving average is $147.70 and its 200-day moving average is $148.79. TE Connectivity Ltd. has a 12-month low of $128.91 and a 12-month high of $159.98. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The firm has a market cap of $43.76 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 1.91 and a beta of 1.32.

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

TE Connectivity announced that its board has authorized a share buyback program on Wednesday, October 30th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TEL shares. 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. StockNews.com raised shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a research report on Monday, December 16th. HSBC lowered shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a research report on Thursday, October 31st. Finally, Bank of America lowered their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, TE Connectivity has an average rating of “Moderate Buy” and a consensus price target of $160.70.

TE Connectivity Company Profile

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.