TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lessened its position in TE Connectivity Ltd. (NYSE:TEL) by 16.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,793 shares of the electronics maker’s stock after selling 364 shares during the quarter. Confluence Wealth Services Inc.’s holdings in TE Connectivity were worth $271,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after buying an additional 128 shares during the last quarter. Olistico Wealth LLC acquired a new position in shares of TE Connectivity during the 2nd quarter worth approximately $30,000. Armstrong Advisory Group Inc. increased its stake in shares of TE Connectivity by 208.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 150 shares during the last quarter. Bank & Trust Co acquired a new position in TE Connectivity in the 2nd quarter valued at about $35,000. Finally, Wolff Wiese Magana LLC grew its position in TE Connectivity by 2,450.0% in the third 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 period. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $150.10 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company has a market cap of $45.62 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33. The company’s fifty day moving average is $147.89 and its two-hundred day moving average is $148.60. TE Connectivity Ltd. has a 12-month low of $123.79 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data 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 net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the business earned $1.78 EPS. TE Connectivity’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts expect that TE Connectivity Ltd. will post 8.16 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a share repurchase program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

TEL has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. HSBC downgraded shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective on the stock. in a research report on Thursday, October 31st. The Goldman Sachs Group lowered 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. Wells Fargo & Company cut 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. Finally, Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $159.55.

TE Connectivity Company 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.