Oppenheimer Asset Management Inc. Lowers Stake in TE Connectivity Ltd. (NYSE:TEL)

Oppenheimer Asset Management Inc. lowered its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 4.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 66,021 shares of the electronics maker’s stock after selling 3,328 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in TE Connectivity were worth $9,439,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Bancorp Inc. bought a new stake in TE Connectivity in the fourth quarter worth $26,000. Golden State Wealth Management LLC purchased a new position in TE Connectivity during the fourth quarter worth $44,000. Hilltop National Bank purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $55,000. Deseret Mutual Benefit Administrators purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $57,000. Finally, Webster Bank N. A. purchased a new stake in shares of TE Connectivity during the fourth quarter valued at $61,000. Institutional investors own 91.43% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Hsbc Global Res raised shares of TE Connectivity from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Bank of America upped their price objective on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. StockNews.com downgraded shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a report on Friday. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a report on Thursday, January 23rd. Finally, Citigroup upped their price objective on TE Connectivity from $160.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, TE Connectivity presently has an average rating of “Hold” and a consensus target price of $167.00.

TE Connectivity Stock Down 0.5 %

NYSE TEL opened at $151.89 on Friday. The business has a fifty day moving average price of $147.66 and a 200 day moving average price of $148.66. 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 quick ratio of 1.10 and a current ratio of 1.68. The company has a market cap of $45.32 billion, a P/E ratio of 24.26, a P/E/G ratio of 2.11 and a beta of 1.32.

TE Connectivity (NYSE:TEL) last posted its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, beating the consensus estimate of $1.89 by $0.06. TE Connectivity had a return on equity of 18.82% and a net margin of 12.10%. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the company earned $1.84 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Research analysts anticipate that TE Connectivity Ltd. will post 8.05 EPS 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.