First Citizens Bank & Trust Co. Sells 2,072 Shares of TE Connectivity Ltd. (NYSE:TEL)

First Citizens Bank & Trust Co. lowered its stake in TE Connectivity Ltd. (NYSE:TEL) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,405 shares of the electronics maker’s stock after selling 2,072 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in TE Connectivity were worth $3,987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its stake in TE Connectivity by 25.3% during the first quarter. Russell Investments Group Ltd. now owns 287,942 shares of the electronics maker’s stock valued at $41,811,000 after acquiring an additional 58,219 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of TE Connectivity by 17.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,166 shares of the electronics maker’s stock worth $52,456,000 after buying an additional 52,824 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in TE Connectivity by 72.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 321,687 shares of the electronics maker’s stock valued at $46,537,000 after buying an additional 135,548 shares during the period. Manning & Napier Advisors LLC purchased a new position in TE Connectivity during the second quarter worth about $15,847,000. Finally, Headlands Technologies LLC increased its stake in TE Connectivity by 2,037.3% in the 1st quarter. Headlands Technologies LLC now owns 3,612 shares of the electronics maker’s stock worth $525,000 after acquiring an additional 3,443 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Wall Street Analysts Forecast Growth

TEL has been the subject of several recent analyst reports. Vertical Research assumed coverage on TE Connectivity in a report on Tuesday, July 23rd. They set a “hold” rating and a $155.00 price objective for the company. StockNews.com assumed coverage on shares of TE Connectivity in a research note on Tuesday, October 15th. They issued a “buy” rating for the company. Bank of America lowered their price objective on shares of TE Connectivity from $173.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. The Goldman Sachs Group reduced their target price 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. Finally, HSBC lowered TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $161.82.

Insider Activity at TE Connectivity

In other news, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity 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 directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Robert J. Ott sold 2,913 shares of the firm’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 transaction, the senior vice president now owns 25,504 shares in the company, valued at $3,942,663.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.70, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.

TE Connectivity Stock Up 0.7 %

Shares of TE Connectivity stock opened at $148.97 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.99 and a current ratio of 1.51. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $159.98. The company’s 50 day moving average price is $148.00 and its 200-day moving average price is $148.19. The stock has a market capitalization of $45.27 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 1.91 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.01 billion. TE Connectivity had a net margin of 21.94% and a return on equity of 18.53%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.77 earnings per share. Equities research analysts forecast that TE Connectivity Ltd. will post 7.56 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.