Marcum Wealth LLC Trims Stake in TE Connectivity Ltd. (NYSE:TEL)

Marcum Wealth LLC trimmed its holdings in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,093 shares of the electronics maker’s stock after selling 75 shares during the quarter. Marcum Wealth LLC’s holdings in TE Connectivity were worth $467,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TEL. Russell Investments Group Ltd. boosted its holdings in shares of TE Connectivity by 25.3% in the 1st quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock valued at $41,811,000 after buying an additional 58,219 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in TE Connectivity by 17.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock valued at $52,456,000 after buying an additional 52,824 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in TE Connectivity by 72.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock worth $46,537,000 after acquiring an additional 135,548 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of TE Connectivity during the second quarter worth about $15,847,000. Finally, Nomura Holdings Inc. purchased a new position in shares of TE Connectivity in the 4th quarter valued at approximately $879,000. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Down 0.7 %

Shares of NYSE TEL opened at $146.39 on Friday. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $159.98. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The company’s 50-day simple moving average is $147.62 and its 200-day simple moving average is $148.02. The firm has a market cap of $44.49 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last announced its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. Equities analysts predict that TE Connectivity Ltd. will post 7.57 EPS for the current fiscal year.

Insider Buying and Selling at TE Connectivity

In other news, CFO Heath A. Mitts sold 59,700 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 38,073 shares in the company, valued at $5,889,893.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Heath A. Mitts sold 59,700 shares of the 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 completion of the sale, the chief financial officer now owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity 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 transaction, the senior vice president now owns 25,504 shares in the company, 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 currently owned by insiders.

Wall Street Analyst Weigh In

TEL has been the topic of a number of recent analyst reports. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Monday. They set a “buy” rating on the stock. Vertical Research assumed coverage on TE Connectivity in a research report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price target for the company. Truist Financial upped their price objective on shares of TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a report on Thursday, July 25th. HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group cut their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $161.82.

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.