TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC decreased its position in TE Connectivity Ltd. (NYSE:TEL) by 71.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,694 shares of the electronics maker’s stock after selling 28,974 shares during the quarter. Pathstone Holdings LLC’s holdings in TE Connectivity were worth $1,766,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TEL. Versant Capital Management Inc increased its stake in shares of TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new position in shares of TE Connectivity during the 2nd quarter valued at about $30,000. Armstrong Advisory Group Inc. increased its stake in shares of TE Connectivity by 208.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Bank & Trust Co acquired a new position in shares of TE Connectivity during the 2nd quarter valued at about $35,000. Finally, Wolff Wiese Magana LLC increased its stake in shares of TE Connectivity by 2,450.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 245 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. Wells Fargo & Company dropped their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. StockNews.com assumed coverage on shares of TE Connectivity in a research report on Sunday. They set a “buy” rating for the company. Finally, The Goldman Sachs Group dropped their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $159.55.

TE Connectivity Stock Up 0.8 %

NYSE TEL opened at $151.13 on Thursday. The stock has a market cap of $45.21 billion, a PE ratio of 14.72, a P/E/G ratio of 2.07 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. The business has a 50 day moving average price of $149.24 and a two-hundred day moving average price of $149.68. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27.

TE Connectivity (NYSE:TEL) last released its quarterly 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 firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 EPS. 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 has approved a stock buyback plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the electronics maker to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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.