TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. lowered its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 6.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,264 shares of the electronics maker’s stock after selling 1,143 shares during the period. Raymond James Trust N.A.’s holdings in TE Connectivity were worth $2,586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TEL. Versant Capital Management Inc grew its stake in TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after buying an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of TE Connectivity in the second quarter valued at approximately $30,000. Armstrong Advisory Group Inc. grew its position in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Bank & Trust Co acquired a new position in shares of TE Connectivity in the 2nd quarter valued at $35,000. Finally, Wolff Wiese Magana LLC raised its position in TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Performance

NYSE:TEL opened at $152.26 on Friday. The firm’s fifty day simple moving average is $148.96 and its 200-day simple moving average is $149.56. 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 stock has a market cap of $45.55 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last issued its 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. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $1.78 earnings per share. Analysts expect that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity announced that its board has authorized a stock buyback plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to reacquire 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.

Analyst Ratings Changes

TEL has been the subject of a number of research reports. Bank of America reduced their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. HSBC cut TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research report on Thursday, October 31st. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. StockNews.com assumed coverage on TE Connectivity in a report on Sunday. They set a “buy” rating for the company. Finally, The Goldman Sachs Group dropped their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.