TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,749,648 shares of the electronics maker’s stock after selling 53,449 shares during the period. Massachusetts Financial Services Co. MA’s holdings in TE Connectivity were worth $717,149,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings 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 period. Olistico Wealth LLC bought a new position in shares of TE Connectivity during the 2nd quarter valued at about $30,000. Armstrong Advisory Group Inc. grew 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 purchasing an additional 150 shares during the last quarter. Bank & Trust Co bought a new stake in shares of TE Connectivity in the 2nd quarter worth approximately $35,000. Finally, Wolff Wiese Magana LLC lifted its stake in TE Connectivity by 2,450.0% during the third quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 245 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Price Performance

NYSE TEL opened at $150.73 on Friday. The stock has a market capitalization of $45.09 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33. The company has a 50 day moving average price of $148.83 and a two-hundred day moving average price of $149.45. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a 12-month low of $128.52 and a 12-month high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.95. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4 billion. TE Connectivity had a return on equity of 18.48% and a net margin of 20.15%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business earned $1.78 EPS. As a group, 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 initiated a share 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

TEL has been the topic of several research reports. Robert W. Baird upped their price target on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Truist Financial increased their price target on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Bank of America cut their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, Wells Fargo & Company decreased their target price on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.