Matrix Asset Advisors Inc. NY Decreases Stake in TE Connectivity Ltd. (NYSE:TEL)

Matrix Asset Advisors Inc. NY trimmed its position in shares of TE Connectivity Ltd. (NYSE:TEL) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,749 shares of the electronics maker’s stock after selling 1,229 shares during the period. TE Connectivity comprises about 1.6% of Matrix Asset Advisors Inc. NY’s portfolio, making the stock its 28th biggest position. Matrix Asset Advisors Inc. NY’s holdings in TE Connectivity were worth $14,155,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. acquired a new position in shares of TE Connectivity during the 4th quarter worth about $51,000. V Square Quantitative Management LLC increased its stake in TE Connectivity by 323.8% in the fourth quarter. V Square Quantitative Management LLC now owns 6,289 shares of the electronics maker’s stock valued at $884,000 after purchasing an additional 4,805 shares during the last quarter. Syon Capital LLC raised its holdings in TE Connectivity by 10.2% during the fourth quarter. Syon Capital LLC now owns 3,303 shares of the electronics maker’s stock worth $464,000 after purchasing an additional 305 shares in the last quarter. Wellington Management Group LLP lifted its position 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 buying an additional 403,750 shares during the last quarter. Finally, SageView Advisory Group LLC acquired a new position in shares of TE Connectivity in the 4th quarter valued at $273,000. Institutional investors and hedge funds own 91.43% of the company’s stock.

TE Connectivity Trading Up 0.8 %

NYSE TEL opened at $147.51 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 stock has a market capitalization of $44.83 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.89 and a beta of 1.33. TE Connectivity Ltd. has a 52-week low of $115.00 and a 52-week high of $159.98. The firm has a 50-day moving average price of $147.59 and a 200 day moving average price of $148.09.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. TE Connectivity had a return on equity of 18.53% and a net margin of 21.94%. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the business posted $1.77 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts expect that TE Connectivity Ltd. will post 7.57 EPS for the current year.

Insider Buying and Selling 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 transaction, the chief financial officer now directly owns 38,073 shares in the company, valued at approximately $5,889,893.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other TE Connectivity news, CFO Heath A. Mitts sold 59,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.70, for a total value of $9,235,590.00. Following the sale, the chief financial officer now owns 38,073 shares of the company’s stock, valued at approximately $5,889,893.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert J. Ott sold 2,913 shares of TE Connectivity stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $154.59, for a total value of $450,320.67. Following the transaction, the senior vice president now directly owns 25,504 shares of the company’s stock, valued at $3,942,663.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TEL has been the topic of several research reports. Truist Financial raised their price objective on TE Connectivity from $151.00 to $156.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Robert W. Baird raised their price target on TE Connectivity from $162.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Bank of America reduced their price objective on TE Connectivity from $173.00 to $165.00 and set a “buy” rating for the company in a research note on Wednesday. HSBC lowered shares of TE Connectivity from a “buy” rating to a “hold” rating and set a $162.00 target price on the stock. in a research report on Wednesday, July 24th. Finally, Hsbc Global Res upgraded shares of TE Connectivity to a “hold” rating in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $161.82.

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.