EverSource Wealth Advisors LLC Cuts Stake in TE Connectivity Ltd. (NYSE:TEL)

EverSource Wealth Advisors LLC reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 41.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 599 shares of the electronics maker’s stock after selling 421 shares during the period. EverSource Wealth Advisors LLC’s holdings in TE Connectivity were worth $85,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $10,759,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $271,000. Nisa Investment Advisors LLC boosted its position in shares of TE Connectivity by 2.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 65,795 shares of the electronics maker’s stock valued at $9,244,000 after buying an additional 1,843 shares during the last quarter. Meeder Advisory Services Inc. boosted its position in shares of TE Connectivity by 7.2% during the fourth quarter. Meeder Advisory Services Inc. now owns 6,162 shares of the electronics maker’s stock valued at $866,000 after buying an additional 412 shares during the last quarter. Finally, Confluence Wealth Services Inc. purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $206,000. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TEL. Bank of America raised their target price on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. StockNews.com began coverage on TE Connectivity in a research report on Sunday. They issued a “buy” rating on the stock. JPMorgan Chase & Co. dropped their target price on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Hsbc Global Res raised TE Connectivity to a “hold” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company decreased their price objective on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 25th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $158.45.

TE Connectivity Price Performance

TEL traded up $1.54 on Tuesday, hitting $144.98. 820,286 shares of the company’s stock traded hands, compared to its average volume of 1,955,427. The company’s 50 day simple moving average is $151.14 and its 200-day simple moving average is $146.09. The firm has a market cap of $44.06 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 1.98 and a beta of 1.33. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $159.98. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the company posted $1.77 EPS. The company’s revenue was up .1% compared to the same quarter last year. As a group, research analysts anticipate that TE Connectivity Ltd. will post 7.56 EPS for the current year.

Insiders Place Their Bets

In other news, insider Terrence R. Curtin 218,500 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Terrence R. Curtin 218,500 shares of the business’s stock in a transaction on Monday, July 29th. The was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the transaction, the senior vice president now owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. Insiders have sold a total of 76,363 shares of company stock valued at $11,791,461 in the last quarter. 0.86% of the stock is currently owned by 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.