Banque Cantonale Vaudoise Sells 3,006 Shares of TE Connectivity Ltd. (NYSE:TEL)

Banque Cantonale Vaudoise decreased its position in TE Connectivity Ltd. (NYSE:TEL) by 89.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 344 shares of the electronics maker’s stock after selling 3,006 shares during the quarter. Banque Cantonale Vaudoise’s holdings in TE Connectivity were worth $52,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Versant Capital Management Inc increased its position 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 purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC purchased a new position in TE Connectivity during the second quarter worth $30,000. Armstrong Advisory Group Inc. increased its position in TE Connectivity by 208.3% during the third 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 purchased a new stake in shares of TE Connectivity in the second quarter valued at $35,000. Finally, Wolff Wiese Magana LLC lifted its holdings in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after acquiring an additional 245 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on TEL. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Bank of America cut their target price on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company decreased their price target on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. StockNews.com began coverage on TE Connectivity in a research report on Sunday. They issued a “buy” rating on the stock. Finally, Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity has an average rating of “Hold” and a consensus price target of $159.55.

TE Connectivity Price Performance

Shares of TEL opened at $152.26 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61. The company has a 50 day moving average price of $148.96 and a 200-day moving average price of $149.56. TE Connectivity Ltd. has a fifty-two week low of $128.52 and a fifty-two week high of $159.98. The stock has a market capitalization of $45.55 billion, a PE ratio of 14.83, a PEG ratio of 2.04 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last posted its 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 company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. TE Connectivity’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 earnings per share. Equities analysts predict that TE Connectivity Ltd. will post 8.14 earnings per share for the current fiscal year.

TE Connectivity announced that its board has approved a stock buyback plan on Wednesday, October 30th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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.