TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lessened its stake in shares of TE Connectivity Ltd. (NYSE:TEL - Free Report) by 85.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,804 shares of the electronics maker's stock after selling 16,971 shares during the period. Y Intercept Hong Kong Ltd's holdings in TE Connectivity were worth $423,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its position in TE Connectivity by 1,632.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker's stock valued at $989,000 after acquiring an additional 6,169 shares during the last quarter. Waverton Investment Management Ltd increased its stake in TE Connectivity by 8.2% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker's stock worth $213,089,000 after buying an additional 106,688 shares during the period. Glenmede Trust Co. NA lifted its holdings in TE Connectivity by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 194,264 shares of the electronics maker's stock valued at $29,322,000 after buying an additional 23,755 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in TE Connectivity by 21.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker's stock valued at $10,471,000 after buying an additional 12,140 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in TE Connectivity by 3.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 145,022 shares of the electronics maker's stock worth $21,897,000 after acquiring an additional 4,646 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TEL has been the subject of a number of research reports. HSBC lowered TE Connectivity from a "hold" rating to a "reduce" rating and set a $137.00 price target for the company. in a report on Thursday, October 31st. Bank of America cut their price target on TE Connectivity from $173.00 to $165.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. Wolfe Research raised shares of TE Connectivity from a "peer perform" rating to an "outperform" rating in a research note on Thursday, September 5th. The Goldman Sachs Group cut 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 report on Tuesday, October 1st. Finally, Wells Fargo & Company lowered their price target on shares of TE Connectivity from $153.00 to $151.00 and set an "equal weight" rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $159.36.

TE Connectivity Stock Down 1.3 %

Shares of TEL traded down $2.00 during midday trading on Tuesday, hitting $147.95. 2,417,627 shares of the company's stock traded hands, compared to its average volume of 1,795,762. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $44.26 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The firm's fifty day moving average is $150.25 and its 200-day moving average is $149.77.

TE Connectivity (NYSE:TEL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $4 billion. During the same quarter last year, the company earned $1.78 earnings per share. The company's quarterly revenue was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.14 earnings per share for the current year.

TE Connectivity declared that its board has initiated a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the electronics maker to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors 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.