TE Connectivity Ltd. (NYSE:TEL) Shares Sold by SVB Wealth LLC

SVB Wealth LLC reduced its holdings in TE Connectivity Ltd. (NYSE:TEL) by 5.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,510 shares of the electronics maker’s stock after selling 1,517 shares during the period. SVB Wealth LLC’s holdings in TE Connectivity were worth $3,838,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TEL. JFS Wealth Advisors LLC increased its holdings in TE Connectivity by 97.8% in the 4th quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock worth $26,000 after acquiring an additional 91 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of TE Connectivity by 112.4% during the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Versant Capital Management Inc raised its position in shares of TE Connectivity by 209.8% during the 2nd quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC purchased a new position in TE Connectivity in the 2nd quarter valued at about $30,000. Finally, Godsey & Gibb Inc. boosted its holdings in TE Connectivity by 103.6% in the 1st quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after buying an additional 114 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TE Connectivity

In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total transaction of $450,320.67. Following the completion of the transaction, the senior vice president now owns 25,504 shares of the company’s stock, valued at $3,942,663.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other TE Connectivity 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 directly owns 20,556 shares in the company, valued at $3,186,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the firm’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 transaction of $450,320.67. Following the completion of the transaction, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,363 shares of company stock worth $11,042,161. Company insiders own 0.86% of the company’s stock.

TE Connectivity Stock Performance

TE Connectivity stock opened at $143.38 on Friday. The firm has a 50 day simple moving average of $150.58 and a 200-day simple moving average of $147.22. The stock has a market cap of $43.91 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 0.99. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the firm earned $1.77 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TEL shares. Wells Fargo & Company decreased their target price on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 25th. Truist Financial lifted their target price on shares of TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Robert W. Baird increased their target price on shares of TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. StockNews.com initiated coverage on shares of TE Connectivity in a research report on Thursday. They set a “buy” rating on the stock. Finally, Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $158.45.

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.