Tortoise Capital Advisors L.L.C. Sells 21,463 Shares of TE Connectivity Ltd. (NYSE:TEL)

Tortoise Capital Advisors L.L.C. reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 11.2% during the second quarter, Holdings Channel.com reports. The fund owned 169,880 shares of the electronics maker’s stock after selling 21,463 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in TE Connectivity were worth $25,555,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TEL. Price T Rowe Associates Inc. MD grew its stake in TE Connectivity by 54.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock worth $2,265,218,000 after purchasing an additional 5,526,230 shares in the last quarter. Norges Bank purchased a new position in shares of TE Connectivity during the fourth quarter valued at $693,985,000. Massachusetts Financial Services Co. MA raised its holdings in shares of TE Connectivity by 2.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock valued at $650,910,000 after acquiring an additional 111,340 shares in the last quarter. Wellington Management Group LLP lifted its stake in TE Connectivity by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after acquiring an additional 403,750 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in TE Connectivity by 13.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,835,064 shares of the electronics maker’s stock worth $398,342,000 after acquiring an additional 343,205 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TEL shares. Wolfe Research upgraded shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday. Robert W. Baird upped their target price on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a research report on Wednesday, July 24th. Wells Fargo & Company decreased their price objective on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 25th. Finally, StockNews.com assumed coverage on TE Connectivity in a research note on Thursday. They issued a “buy” rating on the stock. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $158.45.

TE Connectivity Price Performance

Shares of NYSE TEL opened at $143.38 on Friday. TE Connectivity Ltd. has a fifty-two week low of $115.00 and a fifty-two week high of $159.98. The company has a market cap of $43.58 billion, a PE ratio of 13.12, a P/E/G ratio of 2.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. The business has a 50-day simple moving average of $150.58 and a two-hundred day simple moving average of $147.17.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. TE Connectivity’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the business earned $1.77 EPS. As a group, equities analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction dated 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 of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Heath A. Mitts sold 59,700 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the transaction, the chief financial officer now owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Aaron Kyle Stucki sold 8,750 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 20,556 shares in the company, valued at $3,186,180. The disclosure for this sale can be found here. Insiders have sold a total of 71,363 shares of company stock valued at $11,042,161 in the last ninety days. Company insiders own 0.86% of the company’s stock.

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.