Procyon Advisors LLC Cuts Stock Holdings in TE Connectivity Ltd. (NYSE:TEL)

Procyon Advisors LLC lowered its position in TE Connectivity Ltd. (NYSE:TEL) by 40.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,449 shares of the electronics maker’s stock after selling 971 shares during the period. Procyon Advisors LLC’s holdings in TE Connectivity were worth $219,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in TE Connectivity by 25.3% in the 1st quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock valued at $41,811,000 after buying an additional 58,219 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in TE Connectivity by 17.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after acquiring an additional 52,824 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in TE Connectivity by 72.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock worth $46,537,000 after purchasing an additional 135,548 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in TE Connectivity in the 2nd quarter valued at $15,847,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of TE Connectivity during the 4th quarter valued at $879,000. 91.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on TEL. Wells Fargo & Company reduced their price target on shares of 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. Truist Financial lifted their price target 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. Hsbc Global Res raised TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Robert W. Baird boosted their target price on TE Connectivity from $162.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a research note on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $161.82.

Insider Buying and Selling

In related news, SVP Robert J. Ott sold 2,913 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was 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 in the company, valued at $3,942,663.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total value of $9,235,590.00. Following the completion of the transaction, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of the firm’s 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

TE Connectivity Stock Down 1.0 %

TEL stock opened at $144.80 on Thursday. The stock has a 50-day simple moving average of $147.81 and a two-hundred day simple moving average of $148.12. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $159.98. The firm has a market capitalization of $44.01 billion, a PE ratio of 13.02, a PEG ratio of 1.91 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 (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the firm posted $1.77 EPS. TE Connectivity’s revenue was up .1% on a year-over-year basis. On average, equities analysts predict that TE Connectivity Ltd. will post 7.56 EPS for the current fiscal 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.