TE Connectivity Ltd. (NYSE:TEL) Stock Holdings Lowered by West Michigan Advisors LLC

West Michigan Advisors LLC reduced its holdings in TE Connectivity Ltd. (NYSE:TEL) by 6.7% during the third quarter, Holdings Channel reports. The firm owned 2,216 shares of the electronics maker’s stock after selling 159 shares during the period. West Michigan Advisors LLC’s holdings in TE Connectivity were worth $335,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dakota Wealth Management raised its holdings in shares of TE Connectivity by 22.3% in the 3rd quarter. Dakota Wealth Management now owns 13,599 shares of the electronics maker’s stock worth $2,053,000 after purchasing an additional 2,478 shares in the last quarter. Bogart Wealth LLC increased its position in shares of TE Connectivity by 0.5% in the third quarter. Bogart Wealth LLC now owns 44,400 shares of the electronics maker’s stock worth $6,704,000 after acquiring an additional 231 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of TE Connectivity in the third quarter worth approximately $17,235,000. Monte Financial Group LLC increased its position in shares of TE Connectivity by 6.7% in the third quarter. Monte Financial Group LLC now owns 9,038 shares of the electronics maker’s stock worth $1,365,000 after acquiring an additional 566 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of TE Connectivity by 21.5% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 2,790 shares of the electronics maker’s stock worth $422,000 after acquiring an additional 493 shares in the last quarter. 91.43% of the stock is currently owned by institutional investors.

TE Connectivity Stock Performance

TEL stock opened at $146.87 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $44.98 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.89 and a beta of 1.33. TE Connectivity Ltd. has a 12 month low of $115.00 and a 12 month high of $159.98. The firm has a 50 day moving average of $148.07 and a two-hundred day moving average of $148.23.

TE Connectivity (NYSE:TEL) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. The company had revenue of $4 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $1.77 earnings per share. As a group, equities analysts anticipate that TE Connectivity Ltd. will post 7.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TEL. Robert W. Baird lifted their target price 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. The Goldman Sachs Group dropped their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company lowered their price objective on shares of TE Connectivity from $155.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. HSBC downgraded shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 price objective on the stock. in a research report on Wednesday, July 24th. Finally, Truist Financial boosted their price objective 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. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, TE Connectivity currently has an average rating of “Hold” and a consensus target price of $161.82.

Insider Activity at TE Connectivity

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