TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Fort L.P.

Fort L.P. cut its holdings in TE Connectivity Ltd. (NYSE:TEL) by 5.0% during the third quarter, HoldingsChannel reports. The firm owned 1,690 shares of the electronics maker’s stock after selling 89 shares during the period. Fort L.P.’s holdings in TE Connectivity were worth $255,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of TEL. Simplicity Wealth LLC boosted its holdings in shares of TE Connectivity by 2.7% in the second quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after acquiring an additional 67 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in shares of TE Connectivity by 2.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock valued at $432,000 after acquiring an additional 68 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of TE Connectivity by 3.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock valued at $267,000 after acquiring an additional 69 shares in the last quarter. Optas LLC boosted its holdings in shares of TE Connectivity by 4.2% in the third quarter. Optas LLC now owns 1,778 shares of the electronics maker’s stock valued at $268,000 after acquiring an additional 71 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in TE Connectivity by 5.4% during the first quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock worth $207,000 after buying an additional 73 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors and hedge funds.

TE Connectivity Trading Up 1.8 %

Shares of NYSE:TEL traded up $2.60 during trading on Friday, reaching $150.02. The stock had a trading volume of 1,516,568 shares, compared to its average volume of 1,600,303. The business has a fifty day moving average price of $147.94 and a 200-day moving average price of $148.49. The company has a quick ratio of 0.99, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. The stock has a market cap of $45.59 billion, a P/E ratio of 14.61, a PEG ratio of 2.00 and a beta of 1.33. TE Connectivity Ltd. has a fifty-two week low of $122.30 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $1.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.95. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same quarter in the previous year, the business posted $1.78 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, analysts anticipate that TE Connectivity Ltd. will post 8.16 earnings per share for the current fiscal year.

TE Connectivity declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 30th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Truist Financial boosted their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. StockNews.com assumed coverage on shares of TE Connectivity in a report on Thursday. They set a “buy” rating on the stock. The Goldman Sachs Group decreased their price objective on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, Hsbc Global Res downgraded shares of TE Connectivity from a “hold” rating to a “moderate sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $159.55.

TE Connectivity Company 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.