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

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Meeder Advisory Services Inc. boosted its stake in TE Connectivity by 3.2% during the third quarter. Meeder Advisory Services Inc. now owns 9,434 shares of the electronics maker’s stock valued at $1,424,000 after buying an additional 291 shares in the last quarter. Natixis Advisors LLC boosted its stake in TE Connectivity by 6.1% during the third quarter. Natixis Advisors LLC now owns 152,718 shares of the electronics maker’s stock valued at $23,059,000 after buying an additional 8,737 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in 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 in the last quarter. Empowered Funds LLC boosted its stake in TE Connectivity by 26.3% during the third quarter. Empowered Funds LLC now owns 26,743 shares of the electronics maker’s stock valued at $4,038,000 after buying an additional 5,563 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in TE Connectivity by 4.1% during the third quarter. CIBC Asset Management Inc now owns 77,229 shares of the electronics maker’s stock valued at $11,661,000 after buying an additional 3,030 shares in the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

Shares of NYSE:TEL opened at $151.13 on Thursday. The business’s fifty day moving average price is $149.24 and its two-hundred day moving average price is $149.68. 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 $45.21 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.61 and a quick ratio of 1.08.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts predict that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

TE Connectivity declared that its board has initiated a share 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 stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TEL shares. StockNews.com started coverage on TE Connectivity in a research report on Sunday. They issued a “buy” rating for the company. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a research report on Thursday, October 31st. The Goldman Sachs Group decreased their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Finally, Hsbc Global Res downgraded TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. 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. According to data from MarketBeat.com, TE Connectivity presently has a consensus rating of “Hold” and a consensus 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.