TE Connectivity Ltd. (NYSE:TEL) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. lessened its stake in TE Connectivity Ltd. (NYSE:TEL) by 14.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,741 shares of the electronics maker’s stock after selling 646 shares during the period. Duff & Phelps Investment Management Co.’s holdings in TE Connectivity were worth $563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Simplicity Wealth LLC raised its holdings in shares of TE Connectivity by 2.7% in the 2nd quarter. Simplicity Wealth LLC now owns 2,509 shares of the electronics maker’s stock valued at $377,000 after buying an additional 67 shares during the period. Silvercrest Asset Management Group LLC lifted its position in shares of TE Connectivity by 2.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 2,977 shares of the electronics maker’s stock worth $432,000 after purchasing an additional 68 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of TE Connectivity by 3.9% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,835 shares of the electronics maker’s stock valued at $267,000 after purchasing an additional 69 shares during the period. Manchester Capital Management LLC grew its holdings in shares of TE Connectivity by 5.4% in the first quarter. Manchester Capital Management LLC now owns 1,427 shares of the electronics maker’s stock valued at $207,000 after purchasing an additional 73 shares in the last quarter. Finally, Miracle Mile Advisors LLC increased its stake in TE Connectivity by 0.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 13,326 shares of the electronics maker’s stock worth $1,935,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Insider Transactions at TE Connectivity

In related news, SVP Robert J. Ott sold 2,913 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $154.59, for a total value of $450,320.67. Following the completion of the sale, the senior vice president now owns 25,504 shares in the company, valued at approximately $3,942,663.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other TE Connectivity news, SVP Robert J. Ott sold 2,913 shares of the company’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 transaction of $450,320.67. Following the completion of the sale, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at approximately $3,942,663.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Heath A. Mitts sold 59,700 shares of TE Connectivity stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 38,073 shares in the company, valued at $5,889,893.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,363 shares of company stock worth $11,042,161. Insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. HSBC cut shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price target for the company. in a research report on Wednesday, July 24th. Wells Fargo & Company lowered their target price on TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, September 20th. Truist Financial increased their price target on TE Connectivity from $151.00 to $156.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. StockNews.com began coverage on TE Connectivity in a research report on Sunday. They set a “buy” rating for the company. Finally, Wolfe Research raised shares of TE Connectivity from a “peer perform” rating to an “outperform” rating in a report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $158.73.

TE Connectivity Price Performance

Shares of NYSE:TEL opened at $151.22 on Monday. 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 12 month low of $115.00 and a 12 month high of $159.98. The firm has a market capitalization of $45.96 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.02 and a beta of 1.33. The company’s fifty day moving average price is $148.86 and its 200 day moving average price is $147.76.

TE Connectivity (NYSE:TEL) last posted its 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. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 EPS. As a group, sell-side analysts predict that TE Connectivity Ltd. will post 7.57 earnings per share for the current fiscal 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.