Qsemble Capital Management LP Sells 100 Shares of TE Connectivity Ltd. (NYSE:TEL)

Qsemble Capital Management LP cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,685 shares of the electronics maker’s stock after selling 100 shares during the period. Qsemble Capital Management LP’s holdings in TE Connectivity were worth $858,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new stake in TE Connectivity during the 2nd quarter valued at $15,847,000. Venturi Wealth Management LLC boosted its position in TE Connectivity by 1,632.0% during the third quarter. Venturi Wealth Management LLC now owns 6,547 shares of the electronics maker’s stock valued at $989,000 after purchasing an additional 6,169 shares in the last quarter. Marshall Financial Group LLC purchased a new position in TE Connectivity in the second quarter valued at about $995,000. Oppenheimer Asset Management Inc. raised its holdings in TE Connectivity by 21.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 69,349 shares of the electronics maker’s stock worth $10,471,000 after purchasing an additional 12,140 shares in the last quarter. Finally, Waverton Investment Management Ltd lifted its position in shares of TE Connectivity by 8.2% during the third quarter. Waverton Investment Management Ltd now owns 1,411,048 shares of the electronics maker’s stock valued at $213,089,000 after buying an additional 106,688 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on TEL. The Goldman Sachs Group reduced their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. HSBC lowered TE Connectivity from a “hold” rating to a “reduce” rating and set a $137.00 price objective for the company. in a report on Thursday, October 31st. Wolfe Research upgraded TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company decreased 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, StockNews.com initiated coverage on TE Connectivity in a research note on Sunday. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $149.84 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27. TE Connectivity Ltd. has a twelve month low of $128.52 and a twelve month high of $159.98. The company’s 50 day moving average is $149.14 and its 200 day moving average is $149.67. The company has a market cap of $44.83 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33.

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

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