TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Boston Family Office LLC

Boston Family Office LLC reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,029 shares of the electronics maker’s stock after selling 2,388 shares during the quarter. Boston Family Office LLC’s holdings in TE Connectivity were worth $6,044,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. LRI Investments LLC purchased a new position in shares of TE Connectivity in the first quarter valued at $72,000. Ascent Group LLC purchased a new position in TE Connectivity in the 1st quarter valued at about $1,312,000. Silvercrest Asset Management Group LLC grew its stake in shares of TE Connectivity by 2.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after acquiring an additional 68 shares in the last quarter. Industrial Alliance Investment Management Inc. increased its position in shares of TE Connectivity by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 2,089 shares of the electronics maker’s stock worth $303,000 after acquiring an additional 88 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of TE Connectivity by 18.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,665 shares of the electronics maker’s stock worth $1,404,000 after acquiring an additional 1,481 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $152.26 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08. The firm has a market capitalization of $45.55 billion, a PE 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 business’s fifty day moving average price is $148.96 and its two-hundred day moving average price is $149.60.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, hitting the consensus estimate 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 net margin of 20.15% and a return on equity of 18.48%. TE Connectivity’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 EPS. On average, research analysts expect that TE Connectivity Ltd. will post 8.14 EPS for the current year.

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

Analyst Upgrades and Downgrades

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

TE Connectivity 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.