KCM Investment Advisors LLC Sells 924 Shares of TE Connectivity Ltd. (NYSE:TEL)

KCM Investment Advisors LLC cut its holdings in TE Connectivity Ltd. (NYSE:TEL) by 7.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,664 shares of the electronics maker’s stock after selling 924 shares during the period. KCM Investment Advisors LLC’s holdings in TE Connectivity were worth $1,761,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TEL. Versant Capital Management Inc grew its holdings in TE Connectivity by 209.8% during the 2nd 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 in the last quarter. Olistico Wealth LLC purchased a new position in shares of TE Connectivity during the second quarter valued at approximately $30,000. Armstrong Advisory Group Inc. increased its position in shares of TE Connectivity by 208.3% during the third quarter. Armstrong Advisory Group Inc. now owns 222 shares of the electronics maker’s stock valued at $34,000 after buying an additional 150 shares during the period. Bank & Trust Co purchased a new position in TE Connectivity during the second quarter valued at $35,000. Finally, Wolff Wiese Magana LLC boosted its position in shares of TE Connectivity by 2,450.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 255 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 245 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Performance

Shares of TEL opened at $148.35 on Friday. The stock has a 50-day simple moving average of $148.50 and a 200-day simple moving average of $149.24. The stock has a market capitalization of $44.38 billion, a PE ratio of 14.44, a PEG ratio of 2.10 and a beta of 1.33. TE Connectivity Ltd. has a 1 year low of $128.52 and a 1 year high of $159.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.08 and a current ratio of 1.61.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The firm had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period in the prior year, the company posted $1.78 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts predict that TE Connectivity Ltd. will post 8.13 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

TEL has been the topic of several analyst reports. Wells Fargo & Company lowered their price objective on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. Bank of America reduced their target price on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. The Goldman Sachs Group reduced their price target on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. StockNews.com started coverage on shares of TE Connectivity in a research report on Saturday. They set a “buy” rating on the stock. Finally, Hsbc Global Res lowered TE Connectivity from a “hold” rating to a “moderate sell” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $159.55.

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.