Fidelis Capital Partners LLC Lowers Position in TE Connectivity Ltd. (NYSE:TEL)

Fidelis Capital Partners LLC cut its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,469 shares of the electronics maker’s stock after selling 179 shares during the period. Fidelis Capital Partners LLC’s holdings in TE Connectivity were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TEL. State Street Corp lifted its position in shares of TE Connectivity by 2.1% during the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after purchasing an additional 268,837 shares in the last quarter. Geode Capital Management LLC grew its position in TE Connectivity by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,981,870 shares of the electronics maker’s stock worth $899,681,000 after purchasing an additional 75,658 shares in the last quarter. Bank of New York Mellon Corp increased its stake in TE Connectivity by 15.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,749,622 shares of the electronics maker’s stock valued at $536,083,000 after buying an additional 488,680 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in shares of TE Connectivity by 26.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,367,650 shares of the electronics maker’s stock worth $508,481,000 after buying an additional 694,917 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of TE Connectivity by 31.1% in the 3rd quarter. Franklin Resources Inc. now owns 3,004,540 shares of the electronics maker’s stock worth $445,603,000 after buying an additional 712,228 shares during the last quarter. 91.43% of the stock is owned by hedge funds and other institutional investors.

TE Connectivity Stock Performance

NYSE TEL opened at $148.19 on Wednesday. The firm has a market cap of $44.21 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 2.11 and a beta of 1.32. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $148.06 and its 200-day moving average is $148.77. TE Connectivity Ltd. has a 12-month low of $137.61 and a 12-month high of $159.98.

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

Insider Activity at TE Connectivity

In other TE Connectivity news, insider Shadrak W. Kroeger sold 3,889 shares of TE Connectivity stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $151.13, for a total transaction of $587,744.57. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at $3,925,752.88. The trade was a 13.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TEL has been the topic of a number of recent analyst reports. Citigroup lifted their price target on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Bank of America lifted their target price on TE Connectivity from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Robert W. Baird increased their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Truist Financial dropped their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $167.00.

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.