TE Connectivity Ltd. (NYSE:TEL) Position Reduced by Boston Family Office LLC

Boston Family Office LLC reduced its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.6% in the third quarter, HoldingsChannel.com reports. The firm owned 40,029 shares of the electronics maker’s stock after selling 2,388 shares during the period. Boston Family Office LLC’s holdings in TE Connectivity were worth $6,044,000 at the end of the most recent reporting period.

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

TE Connectivity Stock Up 1.2 %

TE Connectivity stock opened at $152.26 on Monday. The company has a market capitalization of $45.55 billion, a P/E ratio of 14.83, a P/E/G ratio of 2.07 and a beta of 1.33. TE Connectivity Ltd. has a 1-year low of $128.52 and a 1-year high of $159.98. The firm’s fifty day simple moving average is $148.96 and its 200-day simple moving average is $149.60. 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 (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 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 for the quarter, compared to analyst estimates of $4 billion. During the same quarter in the prior year, the firm posted $1.78 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts forecast that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on TEL shares. Bank of America decreased their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group cut their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. StockNews.com initiated coverage on shares of TE Connectivity in a research note on Sunday. They set a “buy” rating for the company. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Finally, Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research 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 company. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and an average 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.