First County Bank CT Cuts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

First County Bank CT lessened its position in TE Connectivity Ltd. (NYSE:TEL) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,012 shares of the electronics maker’s stock after selling 112 shares during the quarter. First County Bank CT’s holdings in TE Connectivity were worth $303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in TE Connectivity by 54.9% during the 1st 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 during the period. Ameriprise Financial Inc. increased its holdings in TE Connectivity by 26.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock worth $944,791,000 after purchasing an additional 1,304,199 shares during the period. First Trust Advisors LP increased its holdings in TE Connectivity by 150.9% during the 4th quarter. First Trust Advisors LP now owns 2,143,423 shares of the electronics maker’s stock worth $301,151,000 after purchasing an additional 1,289,230 shares during the period. Point72 Asset Management L.P. increased its holdings in TE Connectivity by 238.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock worth $108,212,000 after purchasing an additional 506,754 shares during the period. Finally, Wellington Management Group LLP increased its holdings 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 purchasing an additional 403,750 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on TEL. HSBC cut TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective for the company. in a research report on Wednesday, July 24th. StockNews.com began coverage on TE Connectivity in a research report on Saturday, September 21st. They set a “buy” rating for the company. Vertical Research began coverage on TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price objective for the company. Bank of America upped their price objective on TE Connectivity from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Company lowered their price objective on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, TE Connectivity presently has an average rating of “Hold” and a consensus target price of $158.73.

Insider Buying and Selling at TE Connectivity

In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total transaction of $9,235,590.00. Following the completion of the sale, the chief financial officer now directly owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction that occurred on 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 directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The disclosure for this sale can be found here. Insiders sold a total of 71,363 shares of company stock valued at $11,042,161 in the last ninety days. Insiders own 0.86% of the company’s stock.

TE Connectivity Stock Up 1.1 %

Shares of NYSE TEL opened at $151.22 on Friday. The stock has a market cap of $45.96 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.02 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $159.98. The business has a 50-day moving average price of $148.85 and a 200 day moving average price of $147.59.

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 the consensus estimate of $1.86 by $0.05. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 EPS. Equities research analysts forecast that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

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.