TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Private Trust Co. NA

Private Trust Co. NA lessened its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 19.1% in the fourth quarter, Holdings Channel reports. The firm owned 1,147 shares of the electronics maker’s stock after selling 271 shares during the period. Private Trust Co. NA’s holdings in TE Connectivity were worth $164,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TEL. State Street Corp lifted its stake in shares of TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock worth $1,940,615,000 after purchasing an additional 268,837 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of TE Connectivity by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock valued at $899,681,000 after buying an additional 75,658 shares during the period. Bank of New York Mellon Corp lifted its position in TE Connectivity by 15.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock worth $536,083,000 after acquiring an additional 488,680 shares in the last quarter. EdgePoint Investment Group Inc. grew its position in TE Connectivity by 26.0% in the third quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock valued at $508,481,000 after acquiring an additional 694,917 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of TE Connectivity by 31.1% during the third quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock valued at $445,603,000 after purchasing an additional 712,228 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $151.13, for a total value of $587,744.57. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at $3,925,752.88. The trade was a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TEL shares. Robert W. Baird upped their target price on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price for the company in a research note on Thursday, January 23rd. Hsbc Global Res upgraded TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Bank of America increased their price target on TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company upped their target price on TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $167.00.

TE Connectivity Price Performance

Shares of TEL opened at $148.19 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm has a market cap of $44.21 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 2.11 and a beta of 1.32. TE Connectivity Ltd. has a 52 week low of $137.61 and a 52 week high of $159.98. The stock has a 50 day moving average of $148.06 and a 200-day moving average of $148.77.

TE Connectivity (NYSE:TEL) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts forecast that TE Connectivity Ltd. will post 8.05 EPS for the current 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.