First Pacific Advisors LP Sells 75,567 Shares of TE Connectivity Ltd. (NYSE:TEL)

First Pacific Advisors LP reduced its stake in shares of TE Connectivity Ltd. (NYSE:TEL) by 2.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,662,439 shares of the electronics maker’s stock after selling 75,567 shares during the quarter. TE Connectivity comprises about 5.4% of First Pacific Advisors LP’s investment portfolio, making the stock its 6th largest position. First Pacific Advisors LP’s holdings in TE Connectivity were worth $380,649,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pinnacle Bancorp Inc. acquired a new stake in TE Connectivity during the 4th quarter worth $26,000. SRS Capital Advisors Inc. increased its holdings in shares of TE Connectivity by 117.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 198 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 107 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of TE Connectivity during the fourth quarter worth about $44,000. Hilltop National Bank bought a new position in shares of TE Connectivity during the 4th quarter valued at about $55,000. Finally, Deseret Mutual Benefit Administrators acquired a new position in shares of TE Connectivity in the 4th quarter valued at approximately $57,000. 91.43% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Shadrak W. Kroeger sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $146.77, for a total value of $3,669,250.00. Following the completion of the sale, the insider now directly owns 25,976 shares in the company, valued at approximately $3,812,497.52. This trade represents a 49.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

TEL has been the topic of several research analyst reports. HSBC upgraded shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 target price on the stock in a report on Thursday, January 23rd. StockNews.com cut shares of TE Connectivity from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. Truist Financial reduced their target price on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Citigroup lifted their price target on TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their price objective on TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $167.00.

TE Connectivity Stock Performance

TEL opened at $150.90 on Monday. The business’s 50-day simple moving average is $148.30 and its 200 day simple moving average is $148.74. TE Connectivity Ltd. has a 52-week low of $137.61 and a 52-week 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 firm has a market capitalization of $45.02 billion, a PE ratio of 24.10, a PEG ratio of 2.11 and a beta of 1.32.

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