Washington Trust Advisors Inc. Has $29,000 Stock Position in TE Connectivity Ltd. (NYSE:TEL)

Washington Trust Advisors Inc. reduced its position in TE Connectivity Ltd. (NYSE:TEL) by 36.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 200 shares of the electronics maker’s stock after selling 115 shares during the period. Washington Trust Advisors Inc.’s holdings in TE Connectivity were worth $29,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new position in shares of TE Connectivity in the 4th quarter worth $26,000. SRS Capital Advisors Inc. boosted its position in shares of TE Connectivity by 117.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 107 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of TE Connectivity in the 4th quarter worth $44,000. Hilltop National Bank bought a new position in shares of TE Connectivity in the 4th quarter worth $55,000. Finally, Deseret Mutual Benefit Administrators bought a new position in shares of TE Connectivity in the 4th quarter worth $57,000. 91.43% of the stock is owned by institutional investors and hedge funds.

TE Connectivity Stock Performance

Shares of TE Connectivity stock opened at $147.24 on Friday. The firm has a market cap of $43.93 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The stock’s 50-day moving average is $148.18 and its 200-day moving average is $148.77. TE Connectivity Ltd. has a one year low of $137.61 and a one year high of $159.98. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.68 and a quick ratio of 1.10.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TEL shares. Wells Fargo & Company raised their price target on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. HSBC upgraded TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a report on Thursday, January 23rd. Citigroup lifted their target price on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, StockNews.com lowered TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $167.00.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of TE Connectivity stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $146.77, for a total value of $3,669,250.00. Following the sale, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,812,497.52. The trade was a 49.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

About TE Connectivity

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.