Emprise Bank Cuts Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Emprise Bank lessened its position in TE Connectivity Ltd. (NYSE:TEL) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,524 shares of the electronics maker’s stock after selling 156 shares during the quarter. Emprise Bank’s holdings in TE Connectivity were worth $985,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Simplicity Wealth LLC boosted its position in shares of TE Connectivity by 2.7% during the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock worth $377,000 after acquiring an additional 67 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of TE Connectivity by 2.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after acquiring an additional 68 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of TE Connectivity by 3.9% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock worth $267,000 after acquiring an additional 69 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in shares of TE Connectivity by 5.4% in the 1st quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock valued at $207,000 after purchasing an additional 73 shares during the last quarter. Finally, Miracle Mile Advisors LLC lifted its holdings in shares of TE Connectivity by 0.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock valued at $1,935,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TEL shares. Bank of America boosted their target price on TE Connectivity from $165.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 18th. The Goldman Sachs Group reduced their target price on TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday. Truist Financial boosted their target price on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price for the company. in a report on Wednesday, July 24th. Finally, Wells Fargo & Company reduced their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, September 20th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, TE Connectivity currently has a consensus rating of “Hold” and an average price target of $160.42.

TE Connectivity Stock Performance

Shares of TEL stock opened at $146.60 on Thursday. The company has a market cap of $44.55 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 2.05 and a beta of 1.33. The stock has a 50 day simple moving average of $148.54 and a 200-day simple moving average of $147.89. TE Connectivity Ltd. has a 12-month low of $115.00 and a 12-month high of $159.98. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.23.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The business 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 company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 EPS. On average, equities analysts forecast that TE Connectivity Ltd. will post 7.57 EPS for the current year.

Insider Transactions at TE Connectivity

In other news, SVP Robert J. Ott sold 2,913 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,942,663.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related 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 value of $9,235,590.00. Following the sale, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the sale, the senior vice president now owns 25,504 shares in the company, valued at approximately $3,942,663.36. The disclosure for this sale can be found here. In the last three months, insiders sold 71,363 shares of company stock valued at $11,042,161. Corporate insiders own 0.86% of the company’s stock.

About TE Connectivity

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.