Gateway Investment Advisers LLC Sells 98 Shares of TE Connectivity Ltd. (NYSE:TEL)

Gateway Investment Advisers LLC lowered its holdings in TE Connectivity Ltd. (NYSE:TEL) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,082 shares of the electronics maker’s stock after selling 98 shares during the quarter. Gateway Investment Advisers LLC’s holdings in TE Connectivity were worth $448,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Navalign LLC raised its holdings in shares of TE Connectivity by 1.4% in the 1st quarter. Navalign LLC now owns 8,113 shares of the electronics maker’s stock valued at $1,178,000 after purchasing an additional 115 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of TE Connectivity by 29.6% in the 1st quarter. Ballentine Partners LLC now owns 4,532 shares of the electronics maker’s stock valued at $658,000 after purchasing an additional 1,036 shares in the last quarter. Salem Investment Counselors Inc. raised its stake in shares of TE Connectivity by 112.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of TE Connectivity by 0.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 27,026 shares of the electronics maker’s stock worth $3,925,000 after acquiring an additional 131 shares in the last quarter. Finally, Perpetual Ltd raised its stake in shares of TE Connectivity by 4.1% during the 1st quarter. Perpetual Ltd now owns 1,990 shares of the electronics maker’s stock worth $289,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 1.1 %

NYSE:TEL opened at $149.49 on Wednesday. The company’s 50 day moving average is $147.23 and its two-hundred day moving average is $142.97. The company has a market cap of $45.78 billion, a PE ratio of 13.68, a P/E/G ratio of 2.23 and a beta of 1.35. The company has a current ratio of 1.45, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. TE Connectivity Ltd. has a twelve month low of $115.00 and a twelve month high of $153.54.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $1.86 EPS for the quarter, beating the consensus estimate of $1.83 by $0.03. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.96 billion. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 EPS. Analysts anticipate that TE Connectivity Ltd. will post 7.5 EPS for the current year.

Insider Activity

In other news, Director Mark Trudeau sold 7,044 shares of the company’s 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 of the company’s stock, valued at approximately $837,196.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were 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 in the company, valued at approximately $3,892,763.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark Trudeau sold 7,044 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the completion of the transaction, the director now owns 5,917 shares of the company’s stock, valued at $837,196.33. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of TE Connectivity in a research note on Tuesday, April 9th. They set a “buy” rating and a $180.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of 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 reduced 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 note on Thursday, April 25th. StockNews.com began coverage on shares of TE Connectivity in a research note on Tuesday. They set a “buy” rating for the company. Finally, Wells Fargo & Company dropped their target price on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $155.13.

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.