Zions Bancorporation N.A. Sells 118 Shares of TE Connectivity Ltd. (NYSE:TEL)

Zions Bancorporation N.A. lessened its holdings in TE Connectivity Ltd. (NYSE:TEL) by 23.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 383 shares of the electronics maker’s stock after selling 118 shares during the quarter. Zions Bancorporation N.A.’s holdings in TE Connectivity were worth $58,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TEL. NorthRock Partners LLC acquired a new stake in TE Connectivity in the fourth quarter valued at $223,000. ING Groep NV increased its stake in shares of TE Connectivity by 8.0% in the fourth quarter. ING Groep NV now owns 42,547 shares of the electronics maker’s stock valued at $5,978,000 after buying an additional 3,135 shares during the period. Norges Bank bought a new position in shares of TE Connectivity during the fourth quarter worth about $693,985,000. Coldstream Capital Management Inc. lifted its stake in shares of TE Connectivity by 44.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,986 shares of the electronics maker’s stock worth $701,000 after acquiring an additional 1,542 shares during the period. Finally, Sachetta LLC bought a new stake in TE Connectivity in the fourth quarter valued at approximately $34,000. 91.43% of the stock is owned by institutional investors.

TE Connectivity Price Performance

TEL stock opened at $145.84 on Monday. The stock has a market capitalization of $44.32 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33. The company’s 50-day moving average is $150.14 and its 200-day moving average is $147.31. 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.

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

Insider Buying and Selling

In other TE Connectivity news, insider Aaron Kyle Stucki sold 8,750 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total transaction of $1,356,250.00. Following the transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $3,186,180. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other TE Connectivity 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 owns 38,073 shares in the company, valued at approximately $5,889,893.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Aaron Kyle Stucki sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $155.00, for a total value of $1,356,250.00. Following the completion of the transaction, the insider now owns 20,556 shares in the company, valued at approximately $3,186,180. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,363 shares of company stock worth $11,042,161. 0.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. StockNews.com started coverage on shares of TE Connectivity in a research report on Friday. They set a “buy” rating on the stock. Wolfe Research raised TE Connectivity from a “peer perform” rating to an “outperform” rating in a research report on Thursday, September 5th. HSBC downgraded TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company lowered their target price on TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating for the company in a report on Tuesday, June 25th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $158.45.

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.