First Eagle Investment Management LLC Reduces Holdings in TE Connectivity Ltd. (NYSE:TEL)

First Eagle Investment Management LLC reduced its stake in TE Connectivity Ltd. (NYSE:TEL) by 1.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 129,048 shares of the electronics maker’s stock after selling 1,364 shares during the period. First Eagle Investment Management LLC’s holdings in TE Connectivity were worth $19,413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of TEL. Salem Investment Counselors Inc. raised its holdings in shares of TE Connectivity by 112.4% in the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after buying an additional 100 shares during the last quarter. Versant Capital Management Inc increased its position in shares of TE Connectivity by 209.8% in the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 128 shares during the period. Olistico Wealth LLC acquired a new stake in TE Connectivity during the 2nd quarter worth about $30,000. Bank & Trust Co purchased a new stake in TE Connectivity during the 2nd quarter valued at about $35,000. Finally, Sachetta LLC acquired a new position in shares of TE Connectivity in the fourth quarter valued at about $34,000. 91.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the sale, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Robert J. Ott sold 2,913 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the transaction, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction 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 sale, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,363 shares of company stock worth $11,042,161. Company insiders own 0.86% of the company’s stock.

TE Connectivity Price Performance

Shares of TE Connectivity stock opened at $145.92 on Thursday. The firm has a market cap of $44.35 billion, a PE ratio of 13.35, a P/E/G ratio of 1.98 and a beta of 1.33. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $159.98. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $149.85 and a 200 day moving average price of $147.35.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the business earned $1.77 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. Sell-side analysts predict that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TEL. Truist Financial lifted their target price on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Robert W. Baird upped their price objective on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Vertical Research started coverage on shares of TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 target price for the company. Bank of America upped their price target on shares of TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Wells Fargo & Company reduced 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. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $158.45.

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.