HB Wealth Management LLC Reduces Stock Position in TE Connectivity Ltd. (NYSE:TEL)

HB Wealth Management LLC lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,130 shares of the electronics maker’s stock after selling 510 shares during the period. HB Wealth Management LLC’s holdings in TE Connectivity were worth $1,975,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TEL. JFS Wealth Advisors LLC increased its stake in TE Connectivity by 97.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 184 shares of the electronics maker’s stock valued at $26,000 after acquiring an additional 91 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in shares of TE Connectivity by 112.4% in the first quarter. Salem Investment Counselors Inc. now owns 189 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of TE Connectivity by 209.8% in the second quarter. Versant Capital Management Inc now owns 189 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 128 shares during the last quarter. Olistico Wealth LLC bought a new stake in shares of TE Connectivity in the second quarter worth about $30,000. Finally, Godsey & Gibb Inc. grew its stake in shares of TE Connectivity by 103.6% in the first quarter. Godsey & Gibb Inc. now owns 224 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 91.43% of the company’s stock.

TE Connectivity Stock Up 0.2 %

Shares of TE Connectivity stock opened at $151.49 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 1 year low of $115.00 and a 1 year high of $159.98. The firm’s 50-day moving average is $150.68 and its two-hundred day moving average is $146.87. The stock has a market cap of $46.04 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.07 and a beta of 1.33.

TE Connectivity (NYSE:TEL) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The business 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 was up .1% compared to the same quarter last year. During the same period last year, the business earned $1.77 EPS. As a group, research analysts expect that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TEL. StockNews.com began coverage on shares of TE Connectivity in a report on Wednesday. They issued a “buy” rating for the company. Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a report on Wednesday, July 24th. Truist Financial raised 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. Robert W. Baird raised 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. Finally, HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target on the stock. in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $158.45.

Insider Activity

In related news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total value of $1,356,250.00. Following the sale, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of TE Connectivity stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the sale, the insider now owns 20,556 shares of the company’s stock, valued at approximately $3,186,180. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 76,363 shares of company stock valued at $11,791,461 in the last three months. 0.86% of the stock is currently owned by corporate insiders.

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.