Moors & Cabot Inc. Sells 139 Shares of TE Connectivity Ltd. (NYSE:TEL)

Moors & Cabot Inc. trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 8.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,585 shares of the electronics maker’s stock after selling 139 shares during the quarter. Moors & Cabot Inc.’s holdings in TE Connectivity were worth $239,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TEL. Ameriprise Financial Inc. lifted its position in 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 acquiring an additional 1,304,199 shares during the last quarter. Point72 Asset Management L.P. raised its stake in TE Connectivity by 238.4% in the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after buying an additional 506,754 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of TE Connectivity by 43.0% during the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after acquiring an additional 347,315 shares in the last quarter. Toronto Dominion Bank raised its position in shares of TE Connectivity by 141.3% in the 2nd quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock valued at $70,445,000 after purchasing an additional 274,206 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its holdings in shares of TE Connectivity by 982.6% during the third quarter. Mizuho Securities USA LLC now owns 255,659 shares of the electronics maker’s stock valued at $38,602,000 after buying an additional 232,044 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TEL. Bank of America cut their price target on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. The Goldman Sachs Group decreased 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. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price target for the company. in a research report on Thursday, October 31st. Finally, Wells Fargo & Company reduced their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, September 20th. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $152.26 on Monday. The stock has a market capitalization of $45.55 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33. TE Connectivity Ltd. has a 12 month low of $128.52 and a 12 month high of $159.98. 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 business has a 50-day moving average of $148.96 and a 200 day moving average of $149.60.

TE Connectivity (NYSE:TEL) last released 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 return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 EPS. As a group, sell-side analysts forecast 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 plan on Wednesday, October 30th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are 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.