Defined Wealth Management LLC Sells 392 Shares of TE Connectivity Ltd. (NYSE:TEL)

Defined Wealth Management LLC trimmed its position in TE Connectivity Ltd. (NYSE:TEL) by 5.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,106 shares of the electronics maker’s stock after selling 392 shares during the period. Defined Wealth Management LLC’s holdings in TE Connectivity were worth $1,032,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in TE Connectivity in the fourth quarter worth about $693,985,000. Massachusetts Financial Services Co. MA grew its holdings in TE Connectivity by 2.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,632,809 shares of the electronics maker’s stock valued at $650,910,000 after purchasing an additional 111,340 shares during the period. Impax Asset Management Group plc increased its position in TE Connectivity by 1.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,774,896 shares of the electronics maker’s stock worth $529,798,000 after buying an additional 51,866 shares during the last quarter. Morgan Stanley lifted its position in shares of TE Connectivity by 11.7% during the 3rd quarter. Morgan Stanley now owns 3,738,943 shares of the electronics maker’s stock valued at $461,872,000 after buying an additional 390,723 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of TE Connectivity by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 3,630,003 shares of the electronics maker’s stock worth $510,015,000 after acquiring an additional 403,750 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com began coverage on shares of TE Connectivity in a report on Tuesday. They set a “buy” rating on the stock. The Goldman Sachs Group restated a “buy” rating on shares of TE Connectivity in a research note on Monday, April 1st. Jefferies Financial Group began coverage on TE Connectivity in a research report on Tuesday, April 9th. They set a “buy” rating and a $180.00 price target on the stock. Robert W. Baird cut their price objective on shares of TE Connectivity from $159.00 to $158.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, Wells Fargo & Company decreased their target price on shares of TE Connectivity from $152.00 to $150.00 and set an “equal weight” rating on the stock in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.13.

Insider Activity at TE Connectivity

In related news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the transaction, the insider now directly owns 25,976 shares in the company, valued at approximately $3,892,763.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other TE Connectivity news, insider Shadrak W. Kroeger sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $149.86, for a total value of $749,300.00. Following the completion of the transaction, the insider now owns 25,976 shares of the company’s stock, valued at approximately $3,892,763.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Trudeau sold 7,044 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $141.49, for a total transaction of $996,655.56. Following the sale, the director now directly owns 5,917 shares in the company, valued at approximately $837,196.33. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

TE Connectivity Stock Performance

Shares of TEL opened at $147.83 on Thursday. TE Connectivity Ltd. has a one year low of $115.00 and a one year high of $153.54. The company has a 50-day simple moving average of $147.23 and a two-hundred day simple moving average of $142.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.45 and a quick ratio of 0.92. The firm has a market capitalization of $45.27 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 2.20 and a beta of 1.35.

TE Connectivity (NYSE:TEL) last issued its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.03. TE Connectivity had a net margin of 21.63% and a return on equity of 18.80%. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the business earned $1.65 EPS. TE Connectivity’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, analysts anticipate that TE Connectivity Ltd. will post 7.5 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.