Whittier Trust Co. Cuts Holdings in TE Connectivity Ltd. (NYSE:TEL)

Whittier Trust Co. cut its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 90.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 895 shares of the electronics maker’s stock after selling 8,735 shares during the quarter. Whittier Trust Co.’s holdings in TE Connectivity were worth $135,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TEL. Price T Rowe Associates Inc. MD boosted its stake in TE Connectivity by 54.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,596,370 shares of the electronics maker’s stock valued at $2,265,218,000 after acquiring an additional 5,526,230 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in TE Connectivity by 26.2% in the second quarter. Ameriprise Financial Inc. now owns 6,280,632 shares of the electronics maker’s stock valued at $944,791,000 after acquiring an additional 1,304,199 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in TE Connectivity by 238.4% in the second quarter. Point72 Asset Management L.P. now owns 719,354 shares of the electronics maker’s stock valued at $108,212,000 after acquiring an additional 506,754 shares during the last quarter. Bank of Montreal Can boosted its stake in TE Connectivity by 43.0% in the second quarter. Bank of Montreal Can now owns 1,155,426 shares of the electronics maker’s stock valued at $174,955,000 after acquiring an additional 347,315 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in TE Connectivity by 141.3% in the second quarter. Toronto Dominion Bank now owns 468,294 shares of the electronics maker’s stock valued at $70,445,000 after acquiring an additional 274,206 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction that occurred 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 owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction that occurred 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 owns 38,073 shares of the company’s stock, valued at $5,889,893.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Robert W. Baird boosted their price target 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. Vertical Research assumed coverage on shares of TE Connectivity in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price target on the stock. Truist Financial boosted their price target on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Hsbc Global Res raised shares of TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. Finally, HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target on the stock. in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $161.82.

TE Connectivity Price Performance

TEL stock opened at $146.87 on Friday. 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 one year low of $115.00 and a one year high of $159.98. The stock has a market cap of $44.98 billion, a PE ratio of 13.44, a P/E/G ratio of 1.89 and a beta of 1.33. The firm has a 50 day simple moving average of $148.07 and a two-hundred day simple moving average of $148.23.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS 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 during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the previous year, the company earned $1.77 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts predict that TE Connectivity Ltd. will post 7.56 EPS for the current fiscal year.

TE Connectivity Company 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.