Farmers & Merchants Investments Inc. Trims Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Farmers & Merchants Investments Inc. cut its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 23.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,390 shares of the electronics maker’s stock after selling 1,022 shares during the period. Farmers & Merchants Investments Inc.’s holdings in TE Connectivity were worth $492,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Norges Bank purchased a new position in TE Connectivity during the 4th quarter worth $693,985,000. Massachusetts Financial Services Co. MA grew its holdings in shares of TE Connectivity by 2.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock worth $650,910,000 after buying an additional 111,340 shares during the last quarter. Impax Asset Management Group plc increased its position in TE Connectivity by 1.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock valued at $529,798,000 after acquiring an additional 51,866 shares during the period. Morgan Stanley raised its stake in TE Connectivity by 11.7% during the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after acquiring an additional 390,723 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in TE Connectivity by 12.5% during the 4th 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. 91.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEL has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on TE Connectivity from $170.00 to $169.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Robert W. Baird cut their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a report on Tuesday, April 9th. They issued a “buy” rating and a $180.00 target price on the stock. Wells Fargo & Company dropped their price target on shares of 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. Finally, StockNews.com initiated coverage on shares of TE Connectivity in a research report on Wednesday. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.13.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $149.94 on Wednesday. The firm has a market capitalization of $45.92 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 2.22 and a beta of 1.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The business’s 50 day simple moving average is $147.82 and its 200-day simple moving average is $143.27. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $153.54.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.03. The company had revenue of $3.97 billion for 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%. TE Connectivity’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. As a group, equities analysts forecast that TE Connectivity Ltd. will post 7.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark Trudeau sold 7,044 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now directly owns 5,917 shares in the company, valued at $837,196.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Trudeau sold 7,044 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total value of $996,655.56. Following the sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

About TE Connectivity

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.