TE Connectivity Ltd. (NYSE:TEL) Stake Cut by Boston Common Asset Management LLC

by · The Cerbat Gem

Boston Common Asset Management LLC reduced its holdings in TE Connectivity Ltd. (NYSE:TEL – Free Report) by 23.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,387 shares of the electronics maker’s stock after selling 10,417 shares during the period. Boston Common Asset Management LLC’s holdings in TE Connectivity were worth $5,192,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Simplicity Wealth LLC lifted its stake in TE Connectivity by 2.7% in 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 lifted its stake in TE Connectivity by 2.3% in 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 raised its stake 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 purchasing an additional 69 shares in the last quarter. Manchester Capital Management LLC raised its stake in shares of TE Connectivity by 5.4% during the 1st quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock worth $207,000 after purchasing an additional 73 shares in the last quarter. Finally, Miracle Mile Advisors LLC raised its stake in shares of TE Connectivity by 0.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock worth $1,935,000 after purchasing an additional 75 shares in the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TEL has been the subject of a number of recent research reports. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Truist Financial raised their price objective on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Vertical Research began coverage on TE Connectivity in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $155.00 price objective on the stock. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group cut their price objective on TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, TE Connectivity currently has a consensus rating of “Hold” and a consensus price target of $161.82.

Read Our Latest Stock Report on TEL

Insider Buying and Selling

In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction 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 completion of the transaction, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction 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 completion of the transaction, the chief financial officer now owns 38,073 shares in the company, valued at approximately $5,889,893.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value 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 approximately $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 owned by corporate insiders.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $146.39 on Friday. TE Connectivity Ltd. has a 1-year low of $115.00 and a 1-year high of $159.98. The firm has a market capitalization of $44.49 billion, a PE ratio of 13.16, a PEG ratio of 1.83 and a beta of 1.33. The business’s 50 day moving average is $147.62 and its 200-day moving average is $148.02. 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 – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. TE Connectivity’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.77 EPS. Sell-side analysts predict that TE Connectivity Ltd. will post 7.57 earnings per share for the current year.

TE Connectivity Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TEL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TE Connectivity Ltd. (NYSE:TEL – Free Report).