TIAA Trust National Association Sells 153 Shares of TE Connectivity Ltd. (NYSE:TEL)

TIAA Trust National Association cut its position in TE Connectivity Ltd. (NYSE:TEL) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,965 shares of the electronics maker’s stock after selling 153 shares during the quarter. TIAA Trust National Association’s holdings in TE Connectivity were worth $431,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. JFS Wealth Advisors LLC boosted its stake in shares of TE Connectivity by 97.8% during the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after purchasing an additional 91 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Godsey & Gibb Inc. boosted its stake in shares of TE Connectivity by 103.6% during the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 114 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of TE Connectivity during the fourth quarter valued at about $33,000. Finally, Sachetta LLC acquired a new stake in shares of TE Connectivity during the fourth quarter valued at about $34,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Down 3.7 %

Shares of NYSE TEL traded down $5.80 during midday trading on Friday, hitting $150.69. 4,178,593 shares of the stock traded hands, compared to its average volume of 1,570,260. The company has a market cap of $46.15 billion, a PE ratio of 13.79, a P/E/G ratio of 2.22 and a beta of 1.33. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $159.75. The business has a 50 day moving average price of $150.80 and a two-hundred day moving average price of $144.47. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 1.45.

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

Insider Activity

In other news, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the completion of the sale, the insider now owns 20,556 shares in the company, valued at $3,186,180. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Mark Trudeau sold 7,044 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the sale, the director now owns 5,917 shares in the company, valued at $837,196.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company’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 of the company’s stock, valued at approximately $3,186,180. The disclosure for this sale can be found here. Insiders sold a total of 20,794 shares of company stock worth $3,102,206 over the last quarter. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TEL shares. Bank of America lifted their price objective on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Robert W. Baird cut their price objective on TE Connectivity from $159.00 to $158.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Jefferies Financial Group began coverage on TE Connectivity in a research note on Tuesday, April 9th. They issued a “buy” rating and a $180.00 price objective on the stock. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.78.

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.