Boston Common Asset Management LLC Sells 7,803 Shares of TE Connectivity Ltd. (NYSE:TEL)

Boston Common Asset Management LLC decreased its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 22.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 26,584 shares of the electronics maker’s stock after selling 7,803 shares during the quarter. Boston Common Asset Management LLC’s holdings in TE Connectivity were worth $3,801,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TEL. Citizens Financial Group Inc. RI bought a new position in shares of TE Connectivity during the 2nd quarter worth about $203,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of TE Connectivity by 10.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 77,342 shares of the electronics maker’s stock worth $12,222,000 after purchasing an additional 7,113 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of TE Connectivity by 15.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,234 shares of the electronics maker’s stock worth $787,000 after purchasing an additional 717 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of TE Connectivity by 23.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,931 shares of the electronics maker’s stock worth $4,001,000 after purchasing an additional 5,047 shares during the period. Finally, XTX Topco Ltd increased its holdings in shares of TE Connectivity by 44.5% during the 2nd quarter. XTX Topco Ltd now owns 5,206 shares of the electronics maker’s stock worth $783,000 after purchasing an additional 1,604 shares during the period. Institutional investors own 91.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TEL. Wells Fargo & Company dropped their price objective on shares of TE Connectivity from $153.00 to $151.00 and set an “equal weight” rating on the stock in a report on Monday, December 16th. The Goldman Sachs Group lowered their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. HSBC cut shares of TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 target price on the stock. in a research note on Thursday, October 31st. Hsbc Global Res cut shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. Finally, Bank of America lowered their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $160.70.

TE Connectivity Price Performance

NYSE:TEL opened at $146.29 on Friday. The firm has a market cap of $43.76 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.91 and a beta of 1.32. TE Connectivity Ltd. has a 12 month low of $128.91 and a 12 month high of $159.98. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $147.88 and its two-hundred day moving average price is $148.81.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 EPS for the quarter, meeting analysts’ consensus estimates of $1.95. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. On average, equities analysts anticipate that TE Connectivity Ltd. will post 8.14 EPS for the current fiscal year.

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

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.