Davis R M Inc. Sells 73 Shares of TE Connectivity Ltd. (NYSE:TEL)

Davis R M Inc. trimmed its holdings in TE Connectivity Ltd. (NYSE:TEL) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,779 shares of the electronics maker’s stock after selling 73 shares during the quarter. Davis R M Inc.’s holdings in TE Connectivity were worth $985,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in shares of TE Connectivity in the 4th quarter valued at about $10,759,000. Tower Research Capital LLC TRC raised its stake in shares of TE Connectivity by 184.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 43,867 shares of the electronics maker’s stock worth $6,163,000 after purchasing an additional 28,449 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of TE Connectivity by 17.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after purchasing an additional 52,824 shares during the period. Russell Investments Group Ltd. boosted its position in TE Connectivity by 25.3% in the first quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock valued at $41,811,000 after buying an additional 58,219 shares during the last quarter. Finally, Ninety One North America Inc. increased its stake in shares of TE Connectivity by 39.4% in the fourth quarter. Ninety One North America Inc. now owns 61,289 shares of the electronics maker’s stock worth $8,611,000 after acquiring an additional 17,322 shares during the period. 91.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TEL shares. Jefferies Financial Group initiated coverage on TE Connectivity in a report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price target for the company. Robert W. Baird dropped their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. dropped their target price on shares of TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Wells Fargo & Company lowered their price objective on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 25th. Finally, StockNews.com assumed coverage on TE Connectivity in a research report on Friday. They issued a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $156.60.

TE Connectivity Stock Performance

Shares of TEL traded down $1.14 during mid-day trading on Tuesday, reaching $151.80. 1,050,178 shares of the company’s stock were exchanged, compared to its average volume of 1,942,744. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The stock has a market capitalization of $46.49 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.06 and a beta of 1.33. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $159.75. The business’s fifty day simple moving average is $150.91 and its 200-day simple moving average is $144.67.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. TE Connectivity had a return on equity of 18.80% and a net margin of 21.63%. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the firm earned $1.65 EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities research analysts expect that TE Connectivity Ltd. will post 7.51 earnings per share for the current year.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,892,763.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the sale, the insider now owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,794 shares of company stock valued at $3,102,206. 0.86% of the stock is owned by company insiders.

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.