TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Lipe & Dalton

Lipe & Dalton cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 0.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 38,423 shares of the electronics maker’s stock after selling 300 shares during the period. TE Connectivity accounts for 2.9% of Lipe & Dalton’s investment portfolio, making the stock its 9th largest holding. Lipe & Dalton’s holdings in TE Connectivity were worth $5,581,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TEL. Norges Bank purchased a new stake in shares of TE Connectivity during the fourth quarter worth approximately $693,985,000. Massachusetts Financial Services Co. MA lifted its position in shares of TE Connectivity by 2.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock worth $650,910,000 after purchasing an additional 111,340 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of TE Connectivity by 1.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock worth $529,798,000 after purchasing an additional 51,866 shares in the last quarter. Wellington Management Group LLP increased its holdings 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 valued at $510,015,000 after buying an additional 403,750 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in TE Connectivity by 13.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,835,064 shares of the electronics maker’s stock valued at $398,342,000 after buying an additional 343,205 shares in the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Stock Performance

Shares of TE Connectivity stock traded up $1.05 on Friday, reaching $155.81. 1,272,225 shares of the stock were exchanged, compared to its average volume of 1,536,804. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $47.71 billion, a PE ratio of 14.26, a PEG ratio of 2.28 and a beta of 1.33. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $157.42. The business has a fifty day moving average price of $149.65 and a two-hundred day moving average price of $143.92.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) 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 business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the business posted $1.65 EPS. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, research analysts anticipate that TE Connectivity Ltd. will post 7.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

TEL has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price objective on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Jefferies Financial Group started 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. The Goldman Sachs Group reissued a “buy” rating on shares of TE Connectivity in a report on Monday, April 1st. Robert W. Baird lowered their target price on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Wells Fargo & Company decreased their target price on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 25th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, TE Connectivity has an average rating of “Moderate Buy” and a consensus target price of $155.13.

Insider Buying and Selling at TE Connectivity

In other news, 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 transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Aaron Kyle Stucki sold 8,750 shares of the business’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 sale, the insider now owns 20,556 shares of the company’s stock, valued at $3,186,180. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Shadrak W. Kroeger sold 5,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $149.86, for a total transaction of $749,300.00. Following the completion of the transaction, the insider now directly owns 25,976 shares of the company’s stock, valued at $3,892,763.36. 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.