Boston Financial Mangement LLC Buys Shares of 2,363 TE Connectivity Ltd. (NYSE:TEL)

Boston Financial Mangement LLC bought a new stake in TE Connectivity Ltd. (NYSE:TEL) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,363 shares of the electronics maker’s stock, valued at approximately $338,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new position in TE Connectivity in the fourth quarter valued at about $26,000. Golden State Wealth Management LLC purchased a new stake in shares of TE Connectivity during the 4th quarter valued at approximately $44,000. Hilltop National Bank purchased a new stake in shares of TE Connectivity during the 4th quarter valued at approximately $55,000. Webster Bank N. A. purchased a new stake in shares of TE Connectivity during the 4th quarter valued at approximately $61,000. Finally, Vestor Capital LLC purchased a new stake in shares of TE Connectivity during the 3rd quarter valued at approximately $66,000. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TEL. Hsbc Global Res upgraded shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a research note on Thursday, January 23rd. Citigroup upped their price target on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Bank of America upped their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company upped their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, TE Connectivity currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. This represents a 13.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.90% of the company’s stock.

TE Connectivity Stock Performance

TE Connectivity stock opened at $155.65 on Friday. The firm’s 50 day simple moving average is $147.11 and its 200 day simple moving average is $148.32. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $46.44 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.09 and a beta of 1.32. TE Connectivity Ltd. has a 1-year low of $137.61 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 EPS. As a group, analysts expect that TE Connectivity Ltd. will post 8.05 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a share buyback program on Wednesday, October 30th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are 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.